ECONOMICS AS

A FIELD OF STUDY
 Micro economics

By Engr. Ma. Nerissa P. Sangalang, RCE,LPT,MBA

 Supply Schedule and Supply Curve

• The supply schedule is a table that shows

the relationship between the price of a
good and the quantity a producer is willing
and able to supply
• The supply curve shows how the quantity
of a good supplied depends on the price.
Thus the supply curve is an upward-sloping
line relating to the price and quantity
supplied.

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 The Law of Supply
• If a price of a particular good is high, the
quantity supplied or the amount that
producers would be willing to sell will also
be high, ceteris paribus.

• The price and quantity supplied have a

direct relationship.

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 The Slope of the Supply Curve

RISE ∆y ∆P P2-P1
SLOPE = = = =
RUN ∆x ∆Q Q2-Q1
Where:
P1 and Q1 stand for initial price and quantity
of the product, respectively; and

P2 and Q2 are the final price and quantity of

the product, respectively;

∆ is a symbol for
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change
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The Slope of the Supply Curve
Slope for the Supply of Bread

3-4 -1 1
slope = = =
30-40 -10 10

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Other Factors that Influence Supply

• Changes in the number of sellers

• Changes in the cost of production
• Changes in Technology
• Changes in Government Policies

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Praise and glorify GOD
always!
END