Supply and Demand Curves

Front

The amount of stuff that is produced by firms and offered for sale.

Back

Supply

Front

The person or business that provides a good or service.

Back

Supplier

Front

High prices give businesses an incentive to produce. Low prices give producers a reason to reduce production.

Back

Law of Supply

Front

A supply schedule is ...

Back

a table that lists how much of a product will be supplied at different prices.

Front

_______ can improve the ability to produce and supply. Ex. Drone delivery for Amazon

Back

Technology

Front

Government increases rules which reduces supply. Options: Technology, Regulation, Number of Sellers, Supply Shock, Education

Back

Regulation

Front

If suppliers believe a market will be strong they will make more products. ex: smartphones and virtual reality.

Back

Change in Producer Expectations

Front

An increase or decrease in _______ can cause an increase or decrease in the supply of goods/services. ex: fast food, apps

Back

Number of Sellers

Front

Increases in human capital will increase the ability to produce. ex: colleges, tech schools

Back

Education

Front

A sudden and unexpected shortage due to natural disaster or human mistake. ex: earthquakes, fire, hurricane.

Back

Supply Shock