Supply

Front

It is what remains of income after subtracting all the costs involved in making a product or service.

Back

Profit

Front

It is the willingness and ability of a producer to produce and sell a particular good or service in a specific period of time.

Back

Supply

Front

It is the amount the producer wants to sell at a given price.

Back

Quantity supplied

Front

It is a table that shows the quantity supplied or the amount the producer wants to sell at different prices.

Back

Supply schedule

Front

It is the aggregation of all the supply of individual firms.

Back

Market Supply

Front

It is the graphical illustration of the supply schedule.

Back

Supply Curve

Front

Why to producers supply goods?

Back

To earn profits

Front

What happens to the quantity supplied as the price increases?

Back

QS also increases

Front

Law of Demand: As price increases, quantity demanded ___________.

Back

decreases

Front

Law of Supply: As prices increases, quantity supplied ______.

Back

increases