top of page
Economics explained
Category:
Demand and supply
Supply
The secret to scoring awesome grades in economics is to have corresponding awesome notes.
A common pitfall for students is to lose themselves in a sea of notes: personal notes, teacher notes, online notes textbooks, etc... This happens when one has too many sources to revise from! Why not solve this problem by having one reliable source of notes? This is where we can help.
What makes TooLazyToStudy notes different?
Our notes:
-
are clear and concise and relevant
-
is set in an engaging template to facilitate memorisation
-
cover all the important topics in the O level, AS level and A level syllabus
-
are editable, feel free to make additions or to rephrase sentences in your own words!
Looking for live explanations of these notes? Enrol now for FREE tuition!
Supply refers to the quantities of a product that suppliers are willing and able to sell at various prices per period of time, other things being equal.
Firms will have more incentives to supply their products at higher prices.
The law of supply states that there is a positive relationship between price and quantity supplied.
The quantity of a good supplied to a market varies up or down for two reasons.
Existing suppliers may increase or reduce their output quantities.
Firms may stop production altogether and leave the market, or new firms may enter the market and start to produce the good.
bottom of page