oboloo Glossary

Supply Curves

oboloo Glossary

Supply Curves

Supply curves are a crucial tool in business economics as they inform decisions on both pricing and output levels. Put simply, a supply curve is a graphical representation of the relationship between the quantity supplied of a good or service and its price. As such, it allows businesses to understand how an increase in market demand or cost of production can affect their bottom line. By understanding the forces driving supply curves, businesses can be better informed when making decisions about pricing and output level. So if your business needs help navigating the challenges of supply curves, look no further!