What is the quantity of a good that consumers are willing and able to buy at a given price called?

The quantity of a good that consumers are willing and able to buy at a given price is referred to as demand. Demand reflects consumer preferences and behaviors, indicating how much of a product or service will be purchased at various price levels. It is influenced by factors such as income, tastes, prices of substitutes or complements, and consumer expectations.

When discussing demand, we typically represent it using a demand curve, which shows the relationship between price and quantity demanded. As the price of a good decreases, consumer demand generally increases, and vice versa, illustrating the law of demand. Understanding this concept is crucial for analyzing market behavior and the interaction between consumers and producers.

The other terms in the question serve different purposes; for example, supply refers to the quantity of a good that producers are willing and able to sell at various prices, market price indicates the actual selling price in the marketplace based on supply and demand, and equilibrium is the point where supply and demand are equal, determining the market price and quantity sold.