letra de verse 2 - elisha krogstad, aj topete
the law of supply says an increase in quant-ty
supplied for a good or service entirely
will cause the price of the product to rise as
long as all other things keep stabilized
you could say the law of supply has things that are related
those things being price and the quant-ty, get it?
when price goes up, so does quant-ty
represented by the supply curve on a graph
let’s take it back, to the past
when we weren’t talking so fast, when we rap
and let’s talk about determinants
specifically shifting the shoes’ supply graph
a change in the price of the resources and inputs
number of sellers and possible alts. not took
and technology
government action like taxes and subsidies…
… are the only six determinants that will shift the supply curve. change in price isn’t one of them
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