Supply Curve
Supply
AO4·Diagram required
Syllabus requirement
Graphical representation of the law of supply with an upward-sloping curve.
Assessment objectives
AO4 Use of Appropriate Skills
Required diagram: Standard supply curve diagram showing a positive relationship between price and quantity supplied. Label axes and upward slope clearly.
Summary
This topic explains the supply curve: a diagram showing the positive relationship between price and quantity supplied, with price on the y-axis and quantity on the x-axis. It describes how higher prices create incentives for producers (or workers in a labour market) to supply more, and it defines market supply as the horizontal aggregation of individual firms' supply at each price.
