supply
quantity supplied
its the amount service or resource, that people are willing/ able to sell
in a specific period or price
Measures per unit of time
law of supply
relationship between quantity supplied and price of good
Supply schedule
list of quantities supplied at different price.
Supply curve:
it's graph shows law of supply, relationship quantity supplied of a good and its prices
Individual Supply and Market Supply
individual
supply schedule and curve- singular seller
market
sum of supplies of all sellers
change in supply
prices of related goods.
Complements, and substitutes of production
Prices of resources used in production will change the supply because it might
suppose more costs to produce it
expectations
Expected future prices of a good might get interesting, so there
will be more people interested in them
number of sellers
When the amount of sellers increases or decreases.
productivity
Higher productivity leads to higher supply
Lower productivity causes supply to reduce.