What does the equilibrium price represent?

Supply ______________ is a measure of the way in which quantity supplied responds to a ____________ in price.

How can a change in productivity and technology cause a change in supply?

How do taxes, subsidies and the number of sellers / suppliers affect supply?

Which curve illustrates demand and which one illustrates supply? How do you know?

Look at the schedule. Which column shows the quantity supplied and which one the quantity demanded? Why?

How does a change in the cost of production / inputs affect supply?

When does excess supply occur?

Why does the demand curve illustrate a negative relationship between the price and quantity demanded?

Why do you think producers supply more at a higher price?

Production considerations determine supply elasticity. If a firm can react quickly to higher or lower prices, then supply is likely to be ____________. If the firm takes longer to react to a change in prices, then supply is _______________.

Supply is defined as the amount of a ______________ that would be offered for sale at all possible ______________ that could prevail in the market.