Transcript Law of Supply - Thornton Township High Schools District 205

How is Supply similar yet different
from Demand?
• You are motivated by profit (profit incentive)
• You want customers to be happy (continue to shop)
• You want to stay in business as long as possible
• You want your employees (if large enough to hire) happy
• You want to make as much money as possible 
Quantity
Supplied
Price in $
2
2
4
4
6
6
8
8
10
10
12
12
$10 ea
$5
ea
OR
???
• Profit = Price - Cost
Quantity
Demanded
Price in dollars
0
12
2
10
4
8
6
6
8
4
10
2
12
0
Makes sense too? Right?
• Money not spent is money in my pocket or bank!
Quantity
Supplied
Price in
dollars
2
2
4
4
6
6
8
8
10
10
12
12
6
14
14
4
16
16
2
Law of Supply
16
14
12
10
8
0
2
4
6
8
10
12
14
• Yes, They’re like mirror opposites.
• One goes upper left to
• lower right
• And the other goes lower
• left to upper right.
• Which is which?
• I sense a new foldable coming on….. Oh brother 
• Chapter 5.5 Supply Shifters p 85-87
• More Economic Origami