Scarcity & Tradeoffs
Market Graphs (Supply, Demand, etc.)
Government Intervention in Market
Firm Graphs (Fixed, Variable, Marginal Cost, etc.)

Supply

Supply represents the relationship between the price and the quantity supplied to the market. 

In other words... at a given price, how much do producers supply a given good to the market?

Scenario: Sneakers & Co. produces white sneakers on the supply schedule below. Graph resulting supply line.

Price of White Sneakers ($)Quantity Supplied
$1001
$1502
$2003

The Law of Supply states that holding everything constant, when the price of a product increases, the quantity supplied increases.

When the supplier can make more money per unit... they're going to want to produce more!

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