Supply

Law of Supply

The following video will discuss the general law of supply. This law shows the relationship between Price and the quantity of a good firms will supply in a market. It is important to remember that the supply curve or "function" represents the entire market supply from all firms in that market.

You will also need to understand the assumptions that underpin the law of supply. You can find more information here.

Blackboard 2.mp4

Non Price Determinants of Supply

This video will discuss what factors can cause an increase or decrease in the levels of Supply for a good in a market. These factors are what will shift the curve to the right (increase in supply) or to the left (decrease in supply). It is important to remember these factors (that we call non price determinants) as these are the cause of an increase or decrease in supply.

This video will look at the Non price Determinants of Supply. These are the things that can cause an increase or decrease in the supply in a market and shift the supply curve to the left or right.

Supply P2.mp4

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