Economics

5. States that as the price of a good increases, producers are willing to supply more of it
8. A shift of the entire supply curve to the left or right. This occurs when a non-price factor, such as production costs or technology, influences the amount of a good producers are willing to offer at all possible prices
10. The total supply of a product from all producers in a market.
11. the expenses (material,labor,etc) required to produce a good
13. Government rules and standards for production that can affect costs and, therefore, supply
16. Improvements in technology can increase production efficiency, which lowers costs and increases supply
17. A table that shows the various quantities of a good or service that a producer is willing to supply at different possible prices
18. The total amount of a good or service available for sale

1. a market where producers are unable and unwilling to significantly change the quantity of a good they supply, even when its market price changes
2. A table that shows the various quantities of a good or service that a producer is willing to supply at different possible prices
3. A graph showing the relationship between price and quantity supplied
4. The cost of producing one additional unit of a good
6. When supply is greater than demand
7. The specific amount of a good or service producers are willing to sell at given price
9. Costs that change with the level of output, such as the cost of raw materials or hourly wages
12. when supply can change easily with price
14. Costs that do not change regardless of the level of production, such as rent or insurance
15. when supply is less than demand