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
|
tutor2u is the leading global publisher of e-learning resources for Economics, Business, Politics, Enterprise, Law, Sociology, Religious Studies and related subjects. Our materials are used by over 3,500 schools and colleges in the UK and in educational institutions in over 85 other countries. tutor2u offers a range of free and subscription-based materials - designed to support teachers and inspire students. The business also runs a popular series of student revision workshops and teacher conferences. tutor2u was named Online Learning Resource of the Year at the prestigious BETT Show - the World's leading educational show.
|
Privacy & terms of Use |
Contact us |
Teacher Newsletters & Subject Blogs |
