The Law of Supply

The Law of Supply

Contributors

Carys Brown

tutorial.png

one.png
The Law of Supply
Slide1.jpeg

The law of supply states that as the price of a product rises, then the qaunitity supplied rises also. Quantity supplied refers to buisness's willingness to produce a good or service. An easy way of remembering this law is to think from the perspective of a business or frim; the higher the price per good, means that firms are willing to produce a larger qaunitity of goods in order to receive more profit. The opposite occurs when the price of goods falls.  

two.png
Slide2.jpeg
Topic Menu
The Law of Supply
Non-price Factors of Supply
The Effects of Changes in Price
The Effects of Changes of Non-Price Factors

Want your ATAR notes to empower over 77,000 students per year?

Logo-New-Large.png

Join the Team.
Empower Education.

three.png

Sign Up for Free to Read More 

Get instant access to all content and subscribe to our weekly email list on study tips, opportunities and other free resources. 

It only takes a minute...

Slide3.jpeg
four.png
Slide4.jpeg
five.png
Slide5.jpeg
six.png
Slide6.jpeg
157-seven.png
Slide1.jpeg
156-eight.png
Slide8.jpeg