1. What producers are willing to sell

2. Quantity Supplied Specific amounts of goods and services for sale at specific prices

3. Law of Supply Law of Supply- refers to the relationship between price and the quantity of a good or service that firms are willing to produce. The higher the price of the product leads to more supplies and more companies making the product. Price As price increases… Supply Quantity supplied increases Price As price falls… Supply Quantity supplied falls

4. Supply Curve

5. Supply vs. Quantity Supplied SupplyQuantity Supplied What does it look like? Price (P) Quantity S Price Quantity S1 P2 Q1 P1 Q2 S2

6. Plot Supply PriceQuantity $550 $10100 $15200 $20500 $25700 $30800 $401000 PriceQuantity $3001000 $4002000 $5005000 $60010,000 $70015,000 $80020,000 Supply of I-Phone 6 Supply of T-Shirts

7. PriceQuantity $50 $10100 $15200 $20300 $25400 $30500 $35600 Supply of Stuffed Animals Supply of King Sized Candy Bars PriceQuantity $.500 $1.00500 $1.50750 $2.001000 $2.501500 $3.002000