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Economics-Law of Supply

Economics-Law of Supply

Definition of Law of Supply and provided examples.


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Ceev Xiong

Ceev Xiong

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Statistical analysis shows that when immigration increases the supply of workers in a skill category, the earnings of native-born workers in that same category fall. The negative effect will occur regardless of whether the immigrant workers are legal or illegal, temporary or permanent. Any sizable increase in the number of immigrants will inevitably lower wages for some American workers.

Article: Increasing the Supply of ...
Source: Center for Immigration St...

"The problem is that AUO is a new supplier, and they're not able to get to the volumes that Apple needs. So, essentially, there's just one supplier," Shim said, who covered the topic in a blog post today:

Article: iPad Mini could get whack...
Source: CNET News
Ceev Xiong

Ceev Xiong

42 Knowledge Cards 

Because of the limited supplier, the price of the product would be, on average, higher. 

Limited supply also leads to a shortage of the product.


iPad Mini could get whacked by supply issues, ...

iPad Mini could get whacked by supply issues, says analyst

Apple's new tablet could see some long backorder times if demand is strong, NPD DisplaySearch tells CNET.
Brooke Crothers
by Brooke Crothers
October 23, 2012 6:34 PM PDT
If there's keen demand for the iPad mini, Apple may be facing serious supply issues, says DisplaySearch.

If there's keen demand for the iPad mini, Apple may be facing serious supply issues, says DisplaySearch.
(Credit: Apple)

The iPad mini has arrived -- with supply problems in tow.

"We're now starting to see the issues that [Apple] is having with Samsung," Richard Shim, an analyst at NPD DisplaySearch, told CNET in an interview.

Article: Economics-Law of Supply
Source: Economics-Law of Supply

With the help of a federal grant, San Francisco installed parking sensors and new meters at roughly a quarter of its 26,800 metered spots to track when and where cars are parked. And beginning last summer, the city began tweaking its prices every two months — giving it the option of raising them 25 cents an hour, or lowering them by as much as 50 cents — in the hope of leaving each block with at least one available spot.

Article: Program Aims to Make the ...
Source: The New York Times

“The very large area planted is a function of producers responding to prices,” Allen said. “We have had a period of sustained high prices, and farmers are responding by planting a lot of corn — that is probably the most significant factor.”

Article: Original text
Source: Circle of Blue WaterNews
Ceev Xiong

Ceev Xiong

42 Knowledge Cards 

Farmers respond to high prices for corn by planting more, shifting the supply curve outward.


Supply is another side of the water resource policy modeling equation and there have been advances and expanded efforts in several areas. We discuss research on modeling methods to address water supply and allocation in mature water economies, supply alternatives in both mature and expansionary water economies in other parts of the world, the problem of optimizing reservoir water management over time in integrated hydroeconomic modeling environments to explicitly address multiple objective tradeoffs and modeling to address questions about the adequacy of water supply sources under changes in climate.

Source: Wiley Online Library

Drought, pestilence, and the financial crash all increased the cost of supplying rice in Indonesia, shifting the supply of rice [inward, or left].

Article:   Using Supply and Demand
Source:  Offline Book/Journal
Ceev Xiong

Ceev Xiong

42 Knowledge Cards 

An example of an inward shift of the supply curve.


The relationship between the quantity sellers want to sell during some time period (quantity supplied) and price is what economists call the supply curve.

Article: The Supply Curve
Source: Cyber Economics

A change in quantity supplied refers to a change in behavior of sellers caused because price has changed. In this case, the relationship between price and quantity remains unchanged, but a new pair in the list of all possible pairs of price and quantity has been realized.

Article: Supply Terminology
Source: Cyber Economics

The law of supply states that the quantity of a good supplied (i.e., the amount owners or producers offer for sale) rises as the market price rises, and falls as the price falls.

Article: Supply
Source: Library Economics Liberty