# Supply Curve, Graphical representation of Supply Curve

### What is Supply Curve?

The quantity of the supplied services or goods will increase as the price increases and they will decrease as the price decreases provided all other factors remain constant.

These constant factors are very important when stating the supply law. They include:

• The price of Input resources
• The kind of technology used during production
• The number of suppliers
• The number of buyers; and so on.

A graph that shows the relationship between the price of a product or service, and its quantity supplied is the supply curve.

Supply curve can be defined as a graphical representation of the direct relationship between the prices of goods and services and the quantity supplied (of such goods and services) within a particular period of time provided all other factors remain constant.

The producers of goods and services are expected to have the various means and technical know-how of supplying goods and services at a given price. For instance, as a website designer; one should be able to create standard websites for their clients whenever they need such services and in any amount they need it.

To draw a supply curve, the goods, products or services that are supplied must be mapped to a series of prices. These mappings will be seen as a curve.

On the graph of a supply curve, the amount or quantity of goods and services supplied is always placed on the horizontal axis (bottom) while the corresponding price is on the vertical axis (left). The curve is always sloped upwards.

Note: The concept of price ceilings and price floors are better understood with the concept of supply curve.

• Price floor: It is a government-mandated minimum price for a good or service.

• Price ceiling: It is a government-mandated maximum price for a good or service.

Note the followings

• Graphically, the supply curve has a positive slope, that is, it slopes upwards and to the right.

• The curve usually cuts the vertical axis at a point above zero.

• The price and quantity supplied cannot be negative numbers. This is because the suppliers are very unlikely to supply at a price below the cost of production (The suppliers goal is to make profit and not loss).

• If you need a standard website at an affordable price.

• Online training on the academic subjects: biology, chemistry and basic science.

• If you require an advanced smart school management system (web application) for your school.