The Shifting Supply Curve is a business concept that focuses on the relationship between the supply of a good or service and its price. Put simply, it identifies how changes in the production cost of a product or service affect its supply. As production costs decrease, the quantity supplied increases; as production costs increase, the quantity supplied decreases. This concept is important for businesses to understand when setting prices and evaluating new investments, as fluctuations in production costs affect their ability to properly price their products or services and make profits.