Supply | A-Level Economics Notes
These revision notes cover everything you need to know about Supply for A-Level Economics. They're designed for students studying AQA A-Level Economics, Edexcel A-Level Economics, and Edexcel International A-Level Economics. Written by Jaisul Naik, UCL Economics graduate and A-Level Economics tutor since 2017.
What is supply?
Supply is the number of goods and services that firms are willing and able to produce at each price point
Why is the supply curve upward sloping?
The supply curve is upward sloping (positive relationship)
At higher prices, quantity supplied is higher because there is a greater incentive for firms to sell due to the potential to make higher profits
How do you describe a right shift in supply?
Supply shifts to the right when firms are willing and able to produce more goods or services at each price point
This is caused by the non-price factors of supply (PCTWINS)
What are the factors that shift the supply curve?
- Non-price factors
- PCTWINS
- Productivity
- Costs of production
- Technology
- Weather
- Indirect tax
- Number of firms
- Subsidies
Summary questions
- what is supply?
- why is the supply curve upward sloping?
- how do you describe a right shift in supply?
- what are the factors that shift the supply curve?
A-Level Economics Tutoring
I offer one-to-one and small group A-Level Economics tutoring for students across the UK and internationally. With 87+ five-star Google reviews and tutoring experience since 2017, I specialise in helping students understand difficult concepts and improve their exam technique.