The law of supply
Firstly I want you to watch the video and answer the questions on this form Now that we've done demand, supply should be easy as we are dealing with the same things but from the producer's point of view rather than the consumer... and you have to know/do the same things - the law of supply (hint: it's the opposite of the law of demand!), draw a supply curve, distinguish between a movement along the supply curve (because price changes) and a movement of the supply curve (when something other than price changes.... the ceteris paribus conditions). Once again, you will be given a couple of handouts with some tasks to do to fulfill these objectives.
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March 2021
Maree SpraggonTeacher of IB Economics at the American School of Budapest Categories |