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7.12: Introduction to Supply

  • Page ID
    45367
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    What you’ll learn to do: explain the law of supply

    So far you’ve learned about the role of demand in economics—which is the consumer side of the story. In this section, you’ll learn about the producer side of economics to see what factors impact the amount of goods supplied in a market. For example, suppose the global price of petroleum falls significantly. What do you think will happen to the supply of gasoline? How are supply and price connected? In the following readings you’ll examine the law of supply and see why this counterpart to “demand” is also essential to understanding economics.

    Contributors and Attributions

    CC licensed content, Original
    • Outcome: Supply. Authored by: Linda Williams, Steve Greenlaw, and Lumen Learning. License: CC BY: Attribution

    7.12: Introduction to Supply is shared under a not declared license and was authored, remixed, and/or curated by LibreTexts.

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