Unit 1 : Supply

Supply  - the quantity that suppliers are willing and able to produce at various prices .

 The law of  Supply  - there is a direct relationship between price and quantity supply .

what causes a change in quantity supplied ?△ in price

 Determinants 

  1. △ in # of sellers 
  2. △ in the cost of production resources ( current price )
  3. △ in  weather
  4. △ in technology
  5. △ in taxes or subsidies
  6. △ in exceptions ( future)
Increase in supply = curve shift right ; price increase quantity increase 
Decrease in supply = curve shift left ; price decrease quantity decrease 

 Image result for economic demand graph

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