Supply by Ja'Dore Nichols https://padlet.com/JaDore/fic9ok3ozh5t Warm Up Law of Supply Video & Questions 11/4/15 en-us 2015-11-04 15:32:13 UTC 2025-11-01 19:10:48 UTC hello@padlet.com https://padlet-assets.storage.googleapis.com/portrait/pocketwatch.jpg Identify products or services that will be supplied to consumers in large quantities this month & next. JaDore https://padlet.com/JaDore/fic9ok3ozh5t/wish/79262185 Christmas decorations

]]> 2015-11-04 15:34:17 UTC https://padlet.com/JaDore/fic9ok3ozh5t/wish/79262185 A.) Define Supply & Law of Supply JaDore https://padlet.com/JaDore/fic9ok3ozh5t/wish/79264376 Supply - the amount of good and services that producers are able and willing to sell at various prices during a specified time period

Law of Supply - the principle that suppliers will normally offer more for sale at higher prices and less at lower prices

]]> 2015-11-04 15:39:19 UTC https://padlet.com/JaDore/fic9ok3ozh5t/wish/79264376 B.) Define Supply curve & Which way does the curve slope? JaDore https://padlet.com/JaDore/fic9ok3ozh5t/wish/79264506 Supply Curve - upward-sloping line that graphically shows the quantities supplied at each possible price

The curve slopes upwards.

]]> 2015-11-04 15:39:42 UTC https://padlet.com/JaDore/fic9ok3ozh5t/wish/79264506 C.) Define market supply curve JaDore https://padlet.com/JaDore/fic9ok3ozh5t/wish/79264535 Market Supply Curve - the total of all the supply schedules of all the businesses that provide the same good or service

]]> 2015-11-04 15:39:47 UTC https://padlet.com/JaDore/fic9ok3ozh5t/wish/79264535 D.) What factors affect supply JaDore https://padlet.com/JaDore/fic9ok3ozh5t/wish/79264634 Cost of resources

Productivity

Technology

Government Politics

Taxes

Subsidies

Expectations

Number of Suppliers

]]> 2015-11-04 15:40:04 UTC https://padlet.com/JaDore/fic9ok3ozh5t/wish/79264634 E.) Define elastic supply & inelastic supply JaDore https://padlet.com/JaDore/fic9ok3ozh5t/wish/79264718 Supply Elasticity - responsiveness of quantity supplied to a change in price

Supply Inelasticity - relation where relatively large changes in price cause relatively small changes in quantity supplied

]]> 2015-11-04 15:40:18 UTC https://padlet.com/JaDore/fic9ok3ozh5t/wish/79264718 F.) Based on the warm-up, are the products or services you identified elastic or inelastic JaDore https://padlet.com/JaDore/fic9ok3ozh5t/wish/79264745 Supply Elasticity

]]> 2015-11-04 15:40:22 UTC https://padlet.com/JaDore/fic9ok3ozh5t/wish/79264745