Please enable JavaScript.
Coggle requires JavaScript to display documents.
Supply (Shifts of the Supply Curve or Non Price Factors (Environmental.,…
Supply
-
-
Law of Supply
What is this?
-
The Law of Supply states that; as the price of a good or service increases, the quantity supplied increases, vice versa; ceteris paribus.
Flow Ons, (supply flow ons are easier then demand.)
-
Decrease in price:
Fire Staff. May switch to a related good. Limited skills, retrain the staff.
-
P = R - C
Profit = Revenue - Costs
Increasing costs, decreasing profit.
Decreasing costs, increasing profit.
Increasing revenue, increasing profit.
Decreasing revenue, decreasing profit.
-
-
-
Supply
Supply is the quantity of a good or service that a supplier or producer is willing and able to bring to market at a range of prices.
