PRC-3 · Chapter 10 · Question 33 of 70
A local farmer has exactly 1,000 tons of harvested rice sitting in his warehouse. Due to a sudden market crash, he decides to withhold the rice and only offer 200 tons for sale at the current low price. In economic terms, the 200 tons is his:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Quantity Supplied
Explanation
Stock is the total amount in existence (1,000 tons). Supply is only the specific portion of that stock (200 tons) actually offered for sale at a given price and time.
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