AP 10/14/20

In the market, people buy what they want and take what they need. But, this would not be possible
without the suppliers of the product. The suppliers are the ones who make and sell the products that
we, the consumers, buy. If the lesson was about demand, it would talk about the consumers. However,
this lesson is about supply, meaning that we are talking about the producers. Supply is the amount of
product produced and sold at different price ranges within a time frame. There is a direct connection
between its supply and product. The law of supply states that as the number of products supplied to the
people rises, so too does the price of that product to ensure they do not sell more than they can make. It
also applies when the amount of demand drops making its price range drop which allows them to
convince others to buy their product. This type of situation is what we call "ceteris paribus." When the
producers start planning on producing something, the first thing that comes into their mind is making
sure they can handle their budget. This would allow them to earn more than they can use. And that is
how supply is used in the market.