Slope of Supply Curve measures the amount by which an increase in price will affect the quantity of a good or service that a producer is willing to supply. In other words, it shows the “elasticity” of supply – how sensitive suppliers are to changes in the price level. The slope of the supply curve is typically positive and increasing, meaning that as prices increase, suppliers become more inclined to produce and supply the goods and services. This makes the market more efficient and increases competition, which benefits consumers.