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Supply

Supply. Supply is relationship that shows the various quantities of a good that sellers are willing and able to sell at different prices. Supply of Good Z. Price Quantity Supplied $1.00 5 2.00 10 3.00 15 4.00 20 5.00 25 6.00 30. Supply Curve for Good Z. Price.

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Supply

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  1. Supply Supply is relationship that shows the various quantities of a good that sellers are willing and able to sell at different prices.

  2. Supply of Good Z Price Quantity Supplied $1.00 5 2.00 10 3.00 15 4.00 20 5.00 25 6.00 30

  3. Supply Curve for Good Z Price 6 S 5 4 3 2 1 10 20 30 Quantity Supplied 0

  4. Law of Supply Price and quantity supplied are directly related.

  5. Determinants of Supply • Number of Sellers • Prices of Resources • Technology • Prices of Other Goods • Random Events • Expectations • Subsidies and Taxes

  6. Change in Quantity Supplied Price 6 S 5 B 4 A 3 2 1 10 15 20 30 Quantity Supplied 0

  7. Change in Supply Curve (Increase) Price 6 S1 S2 5 4 3 2 1 10 20 30 Quantity Supplied 0

  8. Change in Supply Curve (Decrease) Price S2 6 S1 5 4 3 2 1 10 20 30 Quantity Supplied 0

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