oboloo Glossary

Slope Of A Supply Curve

oboloo Glossary

Slope Of A Supply Curve

The slope of a supply curve is the measure of how much the quantity supplied of a good or service changes when the price of that good or service changes. In other words, it’s a measure of the responsiveness of a supplier to changing prices. The steeper the slope, the more sensitive a supplier is to changes in pricing. Understanding the slope of a supply curve helps businesses and economists alike anticipate various scenarios and allocate resources accordingly.