{"id":4805,"date":"2017-07-01T02:49:35","date_gmt":"2017-07-01T02:49:35","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-macroeconomics\/chapter\/outcome-supply\/"},"modified":"2024-04-26T00:58:10","modified_gmt":"2024-04-26T00:58:10","slug":"introduction-to-supply","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-macroeconomics\/chapter\/introduction-to-supply\/","title":{"raw":"Introduction to Supply","rendered":"Introduction to Supply"},"content":{"raw":"

What you\u2019ll learn to do: explain the determinants of supply<\/h2>\r\n\"Old,\r\n\r\nSo far you've learned about the role of demand in economics\u2014which is the consumer side of the story. In this section, you'll learn about the producer\u00a0side of economics to\u00a0see what\u00a0factors impact the amount of goods\u00a0supplied in a\u00a0market. For example, suppose the global price of petroleum falls significantly. What do you think will happen to the supply of gasoline? How are supply and price connected? In this section you'll examine the law of supply and see why this counterpart to \"demand\"\u00a0is also essential to understanding economics.","rendered":"

What you\u2019ll learn to do: explain the determinants of supply<\/h2>\n

\"Old,<\/p>\n

So far you’ve learned about the role of demand in economics\u2014which is the consumer side of the story. In this section, you’ll learn about the producer\u00a0side of economics to\u00a0see what\u00a0factors impact the amount of goods\u00a0supplied in a\u00a0market. For example, suppose the global price of petroleum falls significantly. What do you think will happen to the supply of gasoline? How are supply and price connected? In this section you’ll examine the law of supply and see why this counterpart to “demand”\u00a0is also essential to understanding economics.<\/p>\n\n\t\t\t

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Candela Citations<\/h3>\n\t\t\t\t\t
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CC licensed content, Original<\/div>