If a factor besides price or quantity changes, a new supply curve needs to be drawn. For example, say that more soybean farmers enter the market ... or hours of labor. In everyday usage, this ...

For example ... supply curve, on the other hand, slopes upward. As prices increase, suppliers provide more of a good or service. The point where supply and demand curves intersect represents the ...

Supply and demand are in turn determined by technology and the conditions under which people operate. At one extreme, the market could be populated by a large number of virtually identical sellers and ...