Supply

Paul Scott

7 min read

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Study Guide Overview

This study guide covers the concept of supply in AP Microeconomics, including the Law of Supply, the supply curve, and determinants of supply such as resource costs, taxes/subsidies, technology, expectations, and number of sellers. It also provides practice questions and exam tips focusing on applying these concepts and correctly identifying changes in quantity supplied versus supply.

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Question 1 of 11

Supply refers to the amount of a good or service producers are 🤔:

Able to produce, regardless of price

Willing to sell, regardless of their ability

Both willing and able to sell at different prices

Planning to sell in the future