The Graduate Management Admission Test is a Standardized test that measures verbal, mathematical and analytical writing skills. It is intended to help the graduate schools of business assess the potential of applicants for advanced study in business and management.
Supply Curve and Supply Schedule The term supply refers to the entire relationship between the quantity supplied and the price of a good. The supply curve shows the relationship between the quantity supplied of a good and its price when all other influences on producersâ planned sales remain the same. Supply
1 As the price increases, household demand decreases, so market demand is downward sloping. 2  The market supply curve is obtained by adding together the individual supply curves of all firms in an economy. 3  As the price increases, the quantity supplied by every firm increases, so market supply is upward sloping.