Summary

 

Supply is the amount of a product that producers are willing to bring to the market at each price

 

The law of supply states that, other things being equal, as price increases, quantity supplied increases and as price decreases, quantity supplied decreases

 

If there is a change in the price of the product, there will be a movement along the supply curve

 

If something other than the price of the product changes, the supply curve will shift

 

If more is demanded at each price, the supply curve will shift to the right

 

If less is demanded at each price, the supply curve will shift to the left