No Bull Economics Lessons

Macroeconomics & Microeconomics Concepts You Must Know

Essential Questions

What is the difference between a change in supply and quantity supply?

Posted on April 15, 2014 at 8:55 AM

The law of supply states that as the price increases, the quantity supplied will increase. A change in quantity supplied occurs when the price of the product changes. This means that you move point-to-point along the supply curve.

A change in supply refers to a shift of the entire supply curve. This is caused by a change in the determinants of supply.

Change in quantity supplied: point-to-point movement along supply curve

Change in supply: shift of the supply curve

AP Macroeconomics / AP Microeconomics Unit 1 Basic Economic Concepts

Categories: AP Macroeconomics, Macro Unit 1 Basic Economic Concepts, Micro Unit 1 Basic Economic Concepts

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