Aim: How are the characteristics of

Supply different then demand?

Supply Side of Economics
Supply- the amount of a product that
producers are willing and able to offer
at different price.
The Law of Supply as the price
increases, supply increases; as price
decreases, supply decrease; the slope
is upward
Quantity Supply- the amount of
good or service that a producer is
willing and able to supply at a specific
price.
Producers-people and businesses
that provide goods and services
Supply Schedule- a list of the variety
of quantity of a product supplied at all
possible prices in the market.

 Supply Curve- a graph showing the

various quantities supplied at each
and every price that might prevail in
the market.
Market Supply Curve- shows the
quantities offered at various prices by
all firms that offer the product for sale
in a given market.
Change in Quantity Supply- a
change in amount offered for sale in
response to a change in price.
Determinates (changes) of Supply
1.

# of sellers (Competition)

2.

Expectations

3.

Cost of resources (input prices)

4.

Technology

5.
Taxes-money people and
businesses pay to help pay the cost of
government

6.
Subsidies- government grants and
regulations
7.

Worker Productivity