Microeconomics,, 16th Canadian Edition

(rishikesh) #1

The amount of a good or service that producers want to sell during some
time period.


supply schedule
A table showing the relationship between quantity supplied and the price
of a product, other things being equal.


supply curve
The graphical representation of the relationship between quantity
supplied and the price of a product, other things being equal.


supply
The entire relationship between the quantity of some good or service that
producers wish to sell and the price of that product, other things being
equal.


change in supply
A change in the quantity supplied at each possible price of the product,
represented by a shift in the whole supply curve.


change in quantity supplied
A change in the specific quantity supplied, represented by a change from
one point on a supply curve to another point, either on the original
supply curve or on a new one.


market
Any situation in which buyers and sellers can negotiate the exchange of

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