gcse economics - demand and supply - supply
Definition
The amount of goods that producers are willing to supply / sell at a given price
SUPPLY AND PRICE
In virtually all cases supply increases as price increases and vice versa.
This is because producers are aiming to make profit.
* If the good is sold at a high price they will make more profit.
* If it is sold at a low price they will either make very little profit or
even a loss
Supply and mars bars
Price |
Quantity Supplied |
£0.20 |
100 |
£0.25 |
150 |
£0.30 |
200 |
£0.35 |
250 |
£0.40 |
300 |
£0.45 |
350 |
£0.50 |
400 |
SUPPLY CURVE
This shows the relationship between supply and price
ACTION
A Explain the reasons for the shape of the supply curve
These GCSE Economics revision notes have been kindly provided by Peter Davies of Mill Hill School, Ripley Keep Up-todate with your GCSE Economics - Subscribe Free to Economics in the News by Email
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