Supply Curve Flashcards
1
Q
What is a supply curve?
A
Supply curve is a curve that shows how much quantity of goods are provided in given prices
2
Q
How’s the relationship between the quantity of supply and price?
A
They have a positive/direct relationship
3
Q
How does a supply curve looks like?
A
It’s a curve sloping upward, left to right
4
Q
What causes the movemnt along the supply curve?
A
Changes of price
5
Q
What causes shifts in supply curve?
A
Other factors
