[!def]
The willingness and ability of firms to supply goods and services at a given price

The law of supply

[!def]
There is a direct relationship between price and good supplied

Profit incentive

higher price means higher profit, motivating firms to produce more

Production costs

Production costs increase when amount of products increase

Rise in supply

  • demand
  • technology
  • resources
  • cost
  • season factors
  • policy
  • competition