Before I continue with the remainder of the Economics for Beginners series, I think it’s vital that I take some time to explain what Economics truly is, since there appears to be an excessive amount of confusion each here on HubPages, and on the Internet in general.
Supply is the relation between the worth of a superb and the amount obtainable on the market at that price. It may be represented as a table or graph relating price and amount provided. Producers, for instance business firms, are hypothesized to be revenue-maximizers, that means that they try to provide and provide the amount of products that may bring them the very best profit. Supply is often represented as a function relating price and amount, if different factors are unchanged.
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