Supply Curve
Definition
The supply curve represents the relationship between the quantity of a good or service supplied by producers and its price. It shows that as prices increase, producers are willing to supply more of the good or service.
Related terms
Law of Supply: The principle that states there is a direct relationship between price and quantity supplied.
Shift in Supply Curve: When factors other than price cause changes in the quantity supplied at each price level.
Elasticity of Supply: A measure of how responsive quantity supplied is to changes in price.
"Supply Curve" appears in:
Subjects (2)
AP Microeconomics
Intro to Business
Additional resources (1)
AP Macroeconomics - Unit 6 Overview: Open Economy-International Trade and Finance
Practice Questions (3)
What causes a shift in the supply curve?
If the supply curve shifts to the right, what happens to quantity supplied?
If the supply curve shifts to the left, what happens to quantity supplied?
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About Us
About Fiveable
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Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
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Glossary
Cram Events
Merch Shop
Crisis Text Line
Help Center
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.