Law Of Supply by https://padlet.com/joelcummings/cldqdpz2fnimx1u0 by: Javon Cummings en-us 2020-12-08 15:43:40 UTC 2026-01-15 23:05:39 UTC hello@padlet.com joelcummings https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/998714588 Here on this wall I will be discussing the law of supply. going through the definitions, what happens when there is change. I have used websites, videos and pictures to further explain my discussion. ]]> 2020-12-08 16:05:47 UTC https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/998714588 #1 joelcummings https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/998726121 This first website I have published here is just explaining the law of supply, which states that the law of supply is the quantity of goods or services that suppliers offer will increase, and vice versa. So as the price of a product goes up, suppliers will try to gain as much profit as possible by increasing how much quantity they have. 
- they have key takeaways which can give further explanations such as:" 
  • Because businesses seek to increase revenue, when they expect to receive a higher price, they will produce more."
  • videos and pictures to help understand the key components of law of supply 
- The reason I chose this website is because it does a good job of explaining the law of supply by defining it efficiently with examples, it's also organized and easy to understand on this page.
]]> 2020-12-08 16:07:51 UTC https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/998726121 Change in law of supply#2 joelcummings https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/999641970 In the law of supply there is changes and shifts, in this article i have submitted here goes through the occurrence of them explaining why and how they happen. so a change in supply happens when there is a shift either left or right in the entire quantity to price relationship. The example shown here is about how a method to extract oil(hydraulic fracturing)  has resulted in a positive supply in the oil market.  the production rose to 1 million barrels per day. Because of the supply increase the price dropped as low as $27. 
- I chose this website because it effectively shows the shifts in law of supply and also makes sure to distinguish the difference between change in supply and quantity supplied.  ]]> 2020-12-08 19:07:39 UTC https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/999641970 law of supply explanation #1 joelcummings https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/999791815 In this video they give a brief and in depth explanation of law of supply and what it involves. they explain that law of supply is goods and services that businesses are willing to produce and deliver to a particular market. ]]> 2020-12-08 19:39:40 UTC https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/999791815 change in supply#2 joelcummings https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/999793974 In this video they do a good job on illustrating how the change in supply can be emerged. They give an example how the supply increases and how it moves along the supply curve. ]]> 2020-12-08 19:40:03 UTC https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/999793974 determinants of change in supply #3 joelcummings https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/999795123 In the third video what is being explained is the factors that can shift the supply curve either to the left or the right. and how there is a difference between a shift of the supply curve and a movement along the supply curve. ]]> 2020-12-08 19:40:16 UTC https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/999795123 law of supply #1 joelcummings https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/999799540 this picture is just defining the law of supply and also showing a picture of the relation between the price and the supply. as price increases quantity supplied increases and vice versa. ]]> 2020-12-08 19:41:14 UTC https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/999799540 differences in supply#2 joelcummings https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/999800335 This second picture I have here is just explaining the supply, the law of supply and the quantity supplied. it's a good insight to the law of supply because you can get confused on distinguishing between law of supply and quantity supply. ]]> 2020-12-08 19:41:25 UTC https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/999800335 Determinants of supply#3 joelcummings https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/1000513252 For my third website I have submitted a page about what causes the change in supply. there is some supply determinants that cause it. 
- improvements of technology: can decrease the need for factors of supplying products. 
- taxes and subsidies: taxes decrease and subsidies increase profits to suppliers 
-Number of sellers: more sellers will result in increase of supplies.

This website has been submitted because it does a good job on explaining  the different determinants that result in the change of supply. ]]> 2020-12-09 00:32:29 UTC https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/1000513252 question #1 joelcummings https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/1000827658 what did you learn that surprised you the most? 
What I learned that surprised me the most is the different determinants that can result in the shift of supply. ]]> 2020-12-09 03:17:36 UTC https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/1000827658 question #2 joelcummings https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/1000850911 provide a real life example ? 
an example can be if there is a bunch of unemployed people and not a lot of job opportunities, this will result in lower pay wages so they can all get accustomed to. ]]> 2020-12-09 03:32:59 UTC https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/1000850911 questions #3 joelcummings https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/1000870486 what I can explain to a family member is that, if a product price increases it entails that the suppliers are trying to capitalize on this product because they have an increase of the product on hand. ]]> 2020-12-09 03:46:28 UTC https://padlet.com/joelcummings/cldqdpz2fnimx1u0/wish/1000870486