Supply Analysis
Lesson 7-1 The Marketplace Consumers influence the price of goods in a market economy. -A market represents actions between buyers and sellers.
Slide 1 Copyright © Pearson Education, Inc.Chapter 5, Opener Essential Question CH5: SUPPLY How do firms/suppliers decide what goods and services to offer?
Basics of our Economic System Chapter 14. Expanding the Circular Flow People exchange their labor to buy goods and services from many businesses Producers.
Markets and Supply Overheads. Competitive agents A buyer or seller (agent) is said to be competitive if the agent assumes or believes that the market.
SUPPLY & DEMAND AP Economics. MARKETS Institution that brings together buyers (DEMAND) and sellers (SUPPLY) of resources, goods and services.
Understanding Supply What is the law of supply? What are supply schedules and supply curves? What is elasticity of supply? What factors affect elasticity.
Business Management Agenda: 3.26.13 Tuesday, March 26 th – Chapter 6.1 Notes & Activity Thursday, March 28 th – Chapter 6.2 Notes & Activity Tuesday, April.
CHAPTER 5: SUPPLY HOW DO SUPPLIERS DECIDE WHAT GOODS AND SERVICES TO OFFER?
