oferta

The term oferta is used in Spanish and Portuguese with several related meanings. It can refer to an act of offering something, a promotional deal, or, in economics and business, the supply of goods or services. In contract law, an offer is a proposal to enter into a binding agreement.

In economics, oferta or supply denotes the quantity of a good or service that producers are willing to sell at different prices over a period. The supply curve is typically upward-sloping; determinants include production costs, technology, input prices, taxes, subsidies, expectations, and the number of sellers.

In contract law, an offer is a clear, definite proposal communicated to another party that, if accepted, forms a contract. It differs from an invitation to treat or solicitation. An offer may be revoked before acceptance; acceptance must correspond to the terms, otherwise it is a counteroffer or rejection.

In business and everyday use, oferta commonly means a sale or promotional discount, such as ofertas especiales or ofertas por tiempo limitado. It also appears in phrases like oferta de empleo and, in corporate finance, oferta pública, referring to public bids or acquisitions.

Etymology: from Latin offerre, through Spanish and Portuguese forms. Regional usage varies, and some contexts use licitación or licitación for formal bids.