Complete the following table by selecting the term that matc

Complete the following table by selecting the term that matches each definition. Quantity Supply Supply Law of Supplied Curve Schedule Supply Definition graphical object showing the relationship between the price of a good and the amount that sellers are willing and able to supply at various prices The amount of a good that sellers are willing and able to supply at a given price A table showing the relationship between the price of a good and the amount of it that sellers are willing and able to supply at various prices The claim that, other things being equal, the quantity supplied of a good increases when the price of that good rises Apply your understanding of the previous key terms by completing the following scenario with the appropriate terminology

Solution

Statement 1 - Supply curve (graphical representation)

Statement 2 - Quantity supplied (amount of good supplied)

Statement 3 - Supply schedule (table)

Statement 4 - Law of supply