Question

Complete the following table by selecting the term that matches each definition.

Answer 1

Answer:

See as below

Explanation:

1. A graphical object showing the relationship between the price of a good and the amount that sellers are willing and able to supply at various prices.

Supply curve: The supply curve is upward sloping. It originates from the bottom left corners and rises as prices increase.

2. The claim that other things being equal, the quantity supplied of good increases when the price of that good rises.

Law of supply: The law of supply asserts that there is a positive or direct relationship between price and quantity supplied. Firms are willing to supply more at higher prices to make more profits.

3. The amount of a good that sellers are willing and able to supply at a given price.

Quantity supplied: Quantity supplied denotes a numerical value that firms are willing to sell at the given price. A high selling is a motivation for producers to supply more.

4. A table showing the relationship between the price of a good and the amount of it that sellers are willing and able to supply at various prices. supply schedule

Supply schedule: A supply schedule shows the quantities that producers are willing to sell at different prices in a period. It illustrates how the price affects the quantities supplies are willing to sell.