In economic terms, what does 'supply' refer to?

Supply, in economic terms, refers to the quantity of a product that producers are willing to sell at various prices. This definition highlights the relationship between price and quantity supplied, which is a fundamental concept in economics. As prices increase, suppliers are generally motivated to produce and sell more of a good or service, reflecting their willingness and capacity to offer it on the market. This direct correlation between price levels and the willingness to supply helps determine the overall supply curve, which can shift based on factors such as production costs, technology, and changes in the number of sellers in the market.

The other options do not accurately capture the definition of supply. While the total amount of goods and services produced touches upon the output aspect, it fails to link this output specifically to prices and willingness to sell. The demand for goods in international markets pertains to a different economic concept, focusing on consumers' desires rather than producers' offerings. Lastly, the ability to create resources without any cost does not align with the concept of supply, as resources come with inherent costs, influencing the production decisions of suppliers.