Supply Curve Movements and Intersections

Flashcards created from lecture notes about movements along the supply curve, a recap of related concepts, and the intersection of supply and demand on the graph.

What topic is defined by movements along the supply curve?

A change in quantity supplied resulting from a change in price, with the supply curve itself remaining in place.

How does a movement along the supply curve differ from a shift of the supply curve?

Movement along the curve is caused by price changes; a shift occurs when non-price factors cause the entire supply curve to move.

What is the market concept referred to by the 'intersection' of supply and demand curves?

Market equilibrium, where quantity supplied equals quantity demanded, determining the equilibrium price and quantity.

In a graph, what does the 'right side' generally indicate?

Higher quantities along the horizontal axis (larger quantity).

What is the overall purpose of examining movements along the supply curve and their intersection with demand?

To understand how price changes influence quantity supplied and how supply and demand interact to determine market equilibrium.