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New page: Supply curve is the graphed relationship between quantity (on the x-axis) and price (on the y-axis) for suppliers of a good or service. In other words, the supply curve illustrates the am...
Supply curve is the graphed relationship between quantity (on the x-axis) and price (on the y-axis) for suppliers of a good or service. In other words, the supply curve illustrates the amount of something that a supplier is willing to produce if he can sell it at a certain price. This curve is usually upward-sloping (i.e., has a positive slope), because a supplier is willing to produce more of something the higher the price he can sell it at.