View mindmap
  • Supply
    • The quantity that a producer is willing and able to produce at a certain price and time
    • Price elasticity of supply (PES)
      • PES measures the responsivness of quantity supplied to a change in price
      • PES= percentage change in quantity supplied/percentage change in price
    • Supply curve
    • Market supply curve
      • Untitled
        • Market  supply curve: several individual firms in the same market
    • Untitled
    • Right shift: greater amount being supplied at the same price
      • Left shift: decrease in supply as prices rise
    • Untitled


No comments have yet been made

Similar Economics resources:

See all Economics resources »See all Supply resources »