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5 Cards in this Set
- Front
- Back
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Supply
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The willingness and ability of sellers to produce and offer to sell different quantities of a good at different prices during a specific time period
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Law of Supply
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as the price of a good rises, the quantity supplied of the good rises and vice
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(Upward-sloping) Supply Curve
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The graphical representation of the law of supply
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Supply Schedule
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the numerical tabulation of the quantity supplied of a good at different prices. Numerical representation of the law of supply.
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Subsidy
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A monetary payment by government to a producer of a good or service
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