What is the willingness and ability of sellers to provide goods and services referred to as?

The willingness and ability of sellers to provide goods and services is referred to as supply. Supply encompasses the various factors that affect the capacity and readiness of producers to sell their products in the market, which can be influenced by production levels, costs, technology, and market conditions.

When supply increases, it typically indicates that sellers can produce more goods at a lower cost or that they are willing to bring more products to the market in response to consumer demand. This concept is fundamental to understanding how markets function, as it plays a crucial role in determining the overall market equilibrium alongside demand, which reflects consumers' willingness and ability to purchase goods and services.

The other concepts, such as demand, market price, and sales potential, are related but distinct from supply. Demand refers to consumers' willingness and ability to purchase products. Market price is the established price for goods or services based on supply and demand dynamics. Sales potential refers to the maximum expected sales volume a company can achieve, which is influenced by various factors including supply, demand, and market conditions. However, it does not specifically define the seller's readiness to provide goods and services, which is the essence of supply.