A supply curve shows the relationship between price and quantity supplied
A supply curve is a graph that shows how much of a good producers will sell at each possible price. As price rises, quantity supplied rises too.
Real World
When Brent crude oil prices rose above $100 a barrel in 2022, North Sea producers ramped up drilling activity, illustrating the upward-sloping supply curve in action.
Exam Focus
Always label axes fully — 'Price (£)' and 'Quantity Supplied (units)' — to avoid losing presentation marks on diagram questions.
Price Elasticity of Demand
PED = % change in quantity demanded ÷ % change in price
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