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
The answer is that, when a non-price determinant of supply changes, the overall relationship between price and quantity supplied is affected. This is represented by a shift of the supply curve, so let's think about how to shift the supply curve.