| A | B |
|---|
| Supply | Amount of a product a producer or seller would be willing to offer for sale at all possible prices in a market at a given point in time. |
| Law of supply | principle that more will be offered for sale at higher pricesthan at lower prices. |
| Supply schedule | A table showing the quantities that would be produced of offered for sale at each and every pricein the market at a given point in time |
| supply curve | A graph that shows the quantities supplied at each and every posible price in the market. |
| Market Supply curve | Supply curve that shows the quantities offered at various prices by all firms that sell the same product in a given market. |
| Quantity supplied | specific amount offered for sale at a given price. |
| Change in quantity supplied | change in the amount offered for sale in response to a change in price. |
| change in supply | different amounts offered for sale at each and every possible price in the market; shift of the supply curve |
| subsidy | government payment to encourage or protect a certain economic activity |
| supply elasticity | responsiveness of quantity supplied to change in price |
