Economics
Textbooks
Boundless Economics
Introducing Supply and Demand
Economics Textbooks Boundless Economics Introducing Supply and Demand
Economics Textbooks Boundless Economics
Economics Textbooks
Economics

Section 2

Supply

Book Version 3
By Boundless
Boundless Economics
Economics
by Boundless
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5 concepts
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The Law of Supply

The law of supply states that there is a positive relationship between the quantity that suppliers are willing to sell and the price level.

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Supply Schedules and Supply Curves

A supply schedule is a tabular depiction of the relationship between price and quantity supplied, represented graphically as a supply curve.

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Market Supply

Market supply is the summation of the individual supply curves within a specific market where the market is characterized as being perfectly competitive.

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Determinants of Supply

Supply levels are determined by price, which increases or decreases supply along the price curve, and non-price factors, which shifts the entire curve.

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Changes in Supply and Shifts in the Supply Curve

The supply curve depicts the supplier's positive relationship between price and quantity.

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