How is Supply similar yet different from Demand?.

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Presentation transcript:

How is Supply similar yet different from Demand?

You are motivated by profit (profit incentive) You want customers to be happy (continue to shop) You want to stay in business as long as possible You want your employees (if large enough to hire) happy You want to make as much money as possible

Quantity Supplied Price in $ Makes sense doesnt it?

$5 ea OR ??? $10 ea

Profit = Price - Cost

Quantity Demanded Price in dollars Makes sense too? Right?

Money not spent is money in my pocket or bank!

Quantity Supplied Price in dollars

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