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ivolga24 [154]
3 years ago
12

Describe the slope of the supply curve. How does the slope reflect the law of supply?

Business
2 answers:
juin [17]3 years ago
8 0

Answer:

Like the law of demand, the law of supply demonstrates the quantities that will be sold at a certain price. But unlike the law of demand, the supply relationship shows an upward slope. This means that the higher the price, the higher the quantity supplied.

tensa zangetsu [6.8K]3 years ago
6 0

Answer:

Like the law of demand, the law of supply demonstrates the quantities that will be sold at a certain price. But unlike the law of demand, the supply relationship shows an upward slope. This means that the higher the price, the higher the quantity supplied.

The upward slope of the supply curve illustrates the law of supply—that a higher price leads to a higher quantity supplied, and vice versa. The shape of supply curves will vary somewhat according to the product: steeper, flatter, straighter, or more curved.

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Read 2 more answers
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UkoKoshka [18]

Answer:

Principles of demand & supply applied to education & employment market (as crucial aspects of student goals).

Explanation:

The goal of a student could be to get in a particular college, university. It could also be to get an work experience opportunity in an organisation.

The student would have to analyse the demand and supply for the particular seats, vacancy in the institute, organisation.

In case of educational goal, demand group will be students & suppliers would be educational institutes. If demand (by students) > supply (by institutes), the price paid would be high depending upon nature of institute. For profit institute, monetary fee would be high & for non profit institute, the eligibility criterion could be very high. If demand < supply, price & or eligibility criterion would be low.

In case of work experience goals, demand group will be firms & suppliers would be employees (students). If demand (by firms) > supply (by employee students), price (wage) received by students would be higher. If supply > demand, wage would be lower.

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