Market Supply
Market supply refers to the total quantity of a good or service that producers are willing and able to sell at various prices in a given market. It is influenced by factors such as production costs, technology, and the number of suppliers. As prices increase, suppliers are generally more motivated to produce and sell more, leading to a higher market supply.
The market supply curve visually represents this relationship, typically sloping upward from left to right. This curve shows how the quantity supplied changes in response to price changes, helping economists and businesses understand supply dynamics in relation to demand and market equilibrium.