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Demand. Supply. The desire and ability to produce and sell a product or service. The desire to buy and the ability to pay for a good or service. Morel Mushrooms. Grow in wild, nearly impossible to farm. Found in the Spring, near dead deciduous trees. Supply Schedule. “Meat” - PowerPoint PPT Presentation
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DemandThe desire to buy and the ability to pay for a good or service.
SupplyThe desire and ability to produce and sell a product or service.
Morel Mushrooms Grow in wild, nearly impossible to farm.Found in the Spring, near dead deciduous trees
Kimmie• Outdoorsy• Full-time Mom and
hairstlyist • Part-time Morel Hunter
Supply Schedule
Price Qty Supplied
$2/lb
$10/lb
$20/lb 200
$30/lb
$50/lb
Price Qty Supplied
$2/lb
$10/lb
$20/lb 200
$30/lb
$50/lb
Morel Mushrooms
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Supply ScheduleSupply Curve
Morel Mushrooms
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D1 The Law of Supply
As Prices Rise…
Quantity Supplied
Rises
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D1 The Law of Supply
As Prices Fall…
Quantity Supplied
Falls
Objective: Learn about what factors affect supply
Guess what!?!You own a Juice Stop
now! Yay!
Fruit Smoothies
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What happens if the price of Fruit Smoothies goes up?Quantity increases!This is called a change in quantity supplied.
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Change in Quantity Supplied
ΔQS Movement along the
supply curve because of a price
change.
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Thinking of the entire Fruit Smoothie industry in Lincoln, NE…
What factors affect the supply of Fruit
Smoothies?(other than price)
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Change in Supply
ΔSA shift of the supply
curve. Happens when something changes in the marketplace
Fruit Smoothies
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Input CostsThe resources needed to produce a good or service.
Fruit Smoothies
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Labor ProductivityThe amount of goods or services that a person can produce in a given time.
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TechnologyApplying scientific methods and innovation to production
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Government ActionRegulation: A set of rules or laws designed to control business behavior
Put away the
pineapple, chump.
Government ActionExcise Tax: A tax on the making or selling of certain goods or services
That banana shake is gonna
cost you, chump.
Fruit Smoothies
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Fruit Smoothies
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Producer ExpectationsExample: High school basketball championships
Fruit Smoothies
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Number of ProducersExample: High school basketball championships
