Supply

• Law of Supply


  As the price of a product rises, so will the quantity supplied
• Individual Supply


  The amount a company is willing and able to supply at a set price during a specific period
• Market Supply


  The total amount all market producers are willing and able to supply at different prices over a given period of time
• Contraction of Supply


  Downward movement along supply curve. When a decrease in the price of a good causes a decreases in quantity supplied.
• Expansion of Supply 


  Upward movement along supply curve. When an increase in the price of a good causes an increase in quantity supplied.
• Increase in Supply


  Curve shifts to the right. Firms are more willing and able to supply more of a product at each price level than before
• Decrease in Supply


  Curve shifts to the left. Firms are able and willing to supply less of a good at each price level than before