Basic definitions and terms regarding supply
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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supply | refers to the willingness and ability of producers to offer goods and services for sale.
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supply schedule | This is a table that shows how much of a good or sevice an individual producer is willing and able to offer for sale at each price in a market.
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supply curve | This is a graph that shows how much of a good or service an individual producer is willing and able to offer for sale at each price.
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law of supply | This law states that producers are willing to sell more of a good or service at a higher price than they are at a lower price.
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market supply curve | A graph that shows how much of a good or service all producers in a market are willing and able to offer for sale at each price.
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To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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