A supply curve is a graphical representation that shows the relationship between the price of a good or service and the quantity that producers are willing to supply. Typically, the curve slopes upward, indicating that as prices increase, suppliers are more motivated to produce and sell more of the product. This reflects the basic economic principle that higher prices can lead to higher profits.
The supply curve is an essential tool in economics, often used alongside the demand curve to determine market equilibrium. The point where the two curves intersect indicates the market price and quantity sold, helping to understand how changes in factors like production costs or consumer demand can affect supply.