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QUANTITY SUPPLIED: The specific (maximum) quantity of a good or service that sellers are willing and able to sell at a specific supply price. The emphasis here is on specific. Quantity supplied and supply price form a specific pair of numbers.
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OTHER PRICES, DEMAND DETERMINANT The prices of other goods that influence the decision to purchase a particular good, which are assumed constant when a demand curve is constructed. Other prices can be for goods that are either substitutes-in-consumption or complements-in-consumption. This is one of five demand determinants that shift the demand curve when they change. The other four are other prices, buyers' preferences, buyers' expectations, and number of buyers.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis, Supreme Court Justice
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AS-AD
Aggregate Supply-Aggregate Demand Model
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