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Law of Supply
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producers offer more of a good as its price increases and less as its price falls
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direct relationship
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a relationship in which one variable increases with an increase in another variable
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supply schedule
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a table that shows the relationship between the price of a good and the quantity supplied
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supply curve
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a graph of the relationship between the price of a good and the quantity supplied
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change in quantity supplied
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movement along the curve
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change in supply
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shift of curve
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price
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the only thing that causes movement along the supply curve
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Inputs
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land, labor, capital, & entreprenuership
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productivity of workers
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output produced by a worker per hour
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expectations
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a strong belief that something will happen or be the case in the future
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government regulations
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a law that controls the way that a business can operate, or all of these laws considered together
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Subsidies
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help from the government, either monetary or non-monetary
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