Law of supply | Supply, demand, and market equilibrium | Microeconomics | Khan Academy

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Introduction to the Law of Supply

Microeconomics on Khan Academy: Topics covered in a traditional college level introductory microeconomics course

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I think the easiest way of learning this would be that Demand is from the POV of the CONSUMERS whereas Supply is from the POV of the PRODUCERS. Producers are profit-oriented and therefore would wanna increase their prices with the increase in demand.

blueskies_vanszy
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The law of demand basically says that when the price of something goes up, people usually buy less of it. And when the price goes down, people tend to buy more of it. It's a simple rule that shows how price affects how much people want to buy something.

Benker-gwmo
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The supply curve is a graph of marginal cost, the minimum price for a supplier is the one where the company works as efficiently as possible.
The supply curve can actually have inflection points because of economies of scale.
For example the marginal cost to produce 1000 grapes is less than the marginal cost of producing 1 grape. That's because fixed costs like land and tractors can be spread over more units.
Note the equalibrium price is still always where the supply and demand curves cross.

servognome
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thanks for getting me through my macro midterm, real mvp

grace
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Thank you, Sal, for making Economics so much easier! :-) I am actually enjoying my holiday just doing math, physics, and economics! :-D

Oscarx
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You are helping a lot, but it would be more helpful if the videos are arranged in a chronological order. The playlist videos in an arranged order will also help your videos to get more watchers, as some of my friends are using other channels because of this reason, I thought to tell this to you.

neerajdangi
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I'm not even going to lie

I just made a file on my Ipad strictly for your videos.

I don't watch tv. I watch your videos :p

Veganphobic
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I don't have a clue, how I got here, but I know now I love economics... 💖 For sure taking it on my ib in 2 years

annkey
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Thank you so much for this, you are a big help to us, most specially during this time that we are using the modular method, self learning module, thank you for sharing this kind of lectureee

elladineros
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As a 14 year old, i am really intrested in this i already saw your video on the law of Demand, i understood it and wrote it on my white board now i need to know about the Law of supply still though thanks for the videos they really are helping me with my hobby.

hishamalaker
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$1 cost of what? to grow each pound of grapes? to buy it in the store? for business owners to buy and sell? which one?

hannahguzman
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5:15
I'm so happy finally someone mentioned it!

memo
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you're right sal about the price being on the vertical axis instead of the horizontal as an engineering student that tripped me up a little

danielocitti
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@TheGyij2 actually, there is no minimum price, because price will be determined by the supply and demand, and both will also be determined by the price that will act as an incentive to produce or not a certain good.

GuilhermePottker
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why did the quantity supply increase by price, if the price was increasing which mean that the quantity demanded would be decreased, why would they need to increase the quantity supply if there are now fewer people wanted to buy them?

aylh
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Dear Khan,
When the price goes up, the quantity demand falls down.
Then why would we provide more supply?
Can you explain the relationship between demand, price and supply?

shweyiwin
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Outstanding videos!
Would you please guide me with following?
Sometime is confusing when referring to price and input; I do understand that input is part of the cost of a particular item. Nonetheless, when referring to price, it is referring to input or selling price. There is any key point to make the difference?

cportobanco
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Idk if I'm stupid or not but what is driving the price to go up with the supply

EpclVIds
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Quick question. So when he sets a price for each quantity, what determines that price? What factors go into determining that price? Another instance is the price for barrels of oil. How do prices change for a good when the supplier isn't the one changing the price and only the amount quantity sold?

ramifarawi
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great a great a ton....immensely helpful....

preethamlazarus