by Shelby Smith-Herrin https://padlet.com/srs7621/87dcgzbnceoe en-us 2015-11-04 15:41:33 UTC 2015-11-04 16:26:13 UTC hello@padlet.com Products or services that will be supplied to consumers in large quantities this month or next.  srs7621 https://padlet.com/srs7621/87dcgzbnceoe/wish/79266046 1. Car Stuff; such as oil, gas, brakes, etc. 

2. Thanksgiving Foods 

3. Christmas Foods

]]> 2015-11-04 15:43:43 UTC https://padlet.com/srs7621/87dcgzbnceoe/wish/79266046 Supply  srs7621 https://padlet.com/srs7621/87dcgzbnceoe/wish/79266660 Definition : Refers to the amount of a good or service that producers are willing to sell at all possible market prices.

]]> 2015-11-04 15:45:16 UTC https://padlet.com/srs7621/87dcgzbnceoe/wish/79266660 Law of Supply:  srs7621 https://padlet.com/srs7621/87dcgzbnceoe/wish/79266845 Definition the principle that suppliers will normally offer more for sale at higher prices and less at lower prices.

When the price is high, the quantity is high.

When the price is low, the quantity is low.

]]> 2015-11-04 15:45:41 UTC https://padlet.com/srs7621/87dcgzbnceoe/wish/79266845 Supply Curve:  srs7621 https://padlet.com/srs7621/87dcgzbnceoe/wish/79266928 Definition A graph that shows the amount of a product that would be supplied at all possible prices in the market

Upward Slope: indicated producers desire to sell more goods at a higher price.

Price can affect market supply curve, consumers can dictate the high price of a product or service.

]]> 2015-11-04 15:45:55 UTC https://padlet.com/srs7621/87dcgzbnceoe/wish/79266928 What factors affect supply?  srs7621 https://padlet.com/srs7621/87dcgzbnceoe/wish/79267104 1. the productivity of workers/labor force

2. Cost of resources: increase means less production of good/service

3. Technology: new technology that can speed up production=lower cost

4. Government policies: government regulations that restrict producers= higher prices.

5. Taxes: lower property taxes=lower cost

6. Subsides: government payment; lower the cost of production

7. Expectations; producers guessing how much customers might buy of a product or service

8. Number of suppliers: number of producers making the same good or providing the same service.

]]> 2015-11-04 15:46:22 UTC https://padlet.com/srs7621/87dcgzbnceoe/wish/79267104 Elastic Supply  srs7621 https://padlet.com/srs7621/87dcgzbnceoe/wish/79267250 Measure of how the quantity supplied of a good or service changes in response to changes in price.

Little or no change in price or quanity in inelastic

Rate of productivity affects the elasticity of supply.

]]> 2015-11-04 15:46:44 UTC https://padlet.com/srs7621/87dcgzbnceoe/wish/79267250 Inelastic Supply  srs7621 https://padlet.com/srs7621/87dcgzbnceoe/wish/79267282 2015-11-04 15:46:46 UTC https://padlet.com/srs7621/87dcgzbnceoe/wish/79267282 Market Supply Curve  srs7621 https://padlet.com/srs7621/87dcgzbnceoe/wish/79272675 Definition: The combination of the supply schedules of all the businesses that provide the same good or service. (The Total)

]]> 2015-11-04 16:00:00 UTC https://padlet.com/srs7621/87dcgzbnceoe/wish/79272675 Based on the warm up, are the products or services you identifies elastic or inelastic supply?  srs7621 https://padlet.com/srs7621/87dcgzbnceoe/wish/79283795 Turkey:

]]> 2015-11-04 16:23:57 UTC https://padlet.com/srs7621/87dcgzbnceoe/wish/79283795