Asked by
Lamar Simpson
on Nov 04, 2024
Verified
A movement along the supply curve is caused by a change in a good's own price.
Supply Curve
A visual chart demonstrating the link between a product's price and the amount producers are willing to supply.
Movement
In economics, this can refer to changes in market conditions, such as price movements, or the migration of people or capital between regions or sectors.
- Grasp the association between alterations in pricing and the corresponding transitions on the supply and demand curves.
Verified Answer
SC
Learning Objectives
- Grasp the association between alterations in pricing and the corresponding transitions on the supply and demand curves.