Supply

AS Level. This should help people with their revision on supply. This includes the Supply Curve.

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Why is the Supply Curve upwards sloping?
There is a greater incentive to supply more at higher prices.
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Market supply is...
The combined quantity that all producers are willing to sell at any price.
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On the supply curve graph; where does the price and quantity go?
Price is on the Y axis; Quantity is on the X axis
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A shift left on the supply curve shows...
a decrease in supply.
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A shift on the supply curve to the right shows...
a increase in supply.
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A shift left happens if a company upgrades one of their products, for example the 1st IPod. Will the supply of the 1st generation IPod still be the same as the latest IPod?
No
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Other cards in this set

Card 2

Front

Market supply is...

Back

The combined quantity that all producers are willing to sell at any price.

Card 3

Front

On the supply curve graph; where does the price and quantity go?

Back

Preview of the front of card 3

Card 4

Front

A shift left on the supply curve shows...

Back

Preview of the front of card 4

Card 5

Front

A shift on the supply curve to the right shows...

Back

Preview of the front of card 5
View more cards

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