Supply Schedule and Supply Curve

A supply schedule is a table showing the various quantities of a commodity a seller is willing to offer for sale at different prices, over a given period, other things remaining constant. An individual supply schedule relates to one seller; a market supply schedule is obtained by horizontally adding the quantities every seller is willing to supply at each price.

Plotting these price–quantity pairs, with price on the vertical (Y) axis and quantity supplied on the horizontal (X) axis, gives the supply curve. Unlike the demand curve, the supply curve normally slopes upward from left to right, showing that sellers are willing to offer MORE of a commodity for sale as its price rises. This direct (positive) relationship between price and quantity supplied is the Law of Supply, taken up next in this MSBSHSE Std XII Economics chapter. …