SUPPLY CURVE- Cheat Sheet

All about Supply Differentiate between

Supply Change in Change in supply
/web/www.cheatography.com/public/images/cheatography_logo.pdf
the quantity of a good or service that quantity supplied
sellers are willing and able to offer at a happen because of: happen because of
given price in a particular time period the price of the another factor
Law of Supply good itself other than factor
Price goes down, quantity supplied the price of the
increases. good itself
Price goes up, quantity supplied increases.
a) Input prices
b) Technology

Factors that affect supply c) Number of

sellers
1. Input prices
2. Number of sellers d) Expectations
3. Technology
4. Expectations Supply curve

Why is the supply curve is upward

sloping?
Common effect Producers will be
wiling to supply
more of their
products as prices
increase.

Explanation
If the price of diminishes supply. There is a positive relationship between
inputs increases, price and quantity supplied.
then the marginal
cost of producing if the price increases, the quantity supplied
clearly increases increases
When we say increases supply. if the price decreases, the quantity supplied
technology decreases
improves, we mean
that we more
output for the
same amount of
input
As more people increases supply
enter in the market
to supply a good,
the market supply
increases

.
Updated 03 December, 2023.
Page 1 of 1.