3 Tutorials that teach Law of Supply
Take your pick:
Law of Supply

Law of Supply

Author: Dan Laub
This lesson covers the law of supply.
See More
Introduction to Psychology

Analyze this:
Our Intro to Psych Course is only $329.

Sophia college courses cost up to 80% less than traditional courses*. Start a free trial now.


Notes for "Law of Supply"

Key Terms

Law of Supply

If the price of a good decreases, the quantity supplied decreases.


Opportunity cost

The sacrifice made by choosing one value or opportunity over another; the value of the forgone opportunity.


Movement Along Supply Curve

Movement caused by a change in price, assuming all other variables are held constant.


Shift in Supply

Changes other than the price of the good itself that affect production decisions for a particular good.