This supply lesson provides an introduction into selling a wide range of goods. In fact, this supply topic does more than offer insight into selling behavior. It's also the second half of the market analysis -- the first half being demand. And to reiterate what I noted during the demand lesson, market analysis is one of the most widely used tools in the study of economics that can be used to explain a lot of economic phenomenon. Of course to use markets, we need both demand and supply. And supply part is our current lesson.

• The first unit of this lesson introduces the basic concept of supply and a few related terms such as supply price and quantity supplied.
• In the second unit then we move into a discussion of the law of supply, which captures the basic relation between supply price and quantity supplied.
• The third unit then develops the supply curve, which is the graphical embodiment of the supply concept.
• Moving onto the fourth unit, we examine how the five basic supply determinants cause the supply curve to shift from one location to another.
• And in the fifth and final unit, we make a connection between supply and the limited resources part of scarcity.

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