Principles of Economics: Microeconomics - The Supply Curve

In this video, we explore the relationship between price and quantity supplied. Why does the supply curve slope upward? The supply curve shows how much of a good suppliers are willing to supply at different prices. For instance, oil suppliers in Alaska and Saudi Arabia face different costs of extraction, affecting the price at which they are willing to supply oil. Supply and Demand 5-day HS unit plan: https://mru.io/u90 Assessment questions: https://mru.io/principles-10014 Econ In The News, a free weekly email of class-ready news articles: https://learn.mru.org/econ-news/ More high school teacher resources: https://mru.io/high-school-a9c08 More professor resources: https://mru.io/university-teaching-090e7 ***CONTINUE LEARNING*** Next video—The Equilibrium Price and Quantity: https://mru.io/equilibrium-price-9eea2 Practice questions: https://mru.io/supply-curve-b5363 Full Microeconomics course: https://mru.io/pw9 00:00 The Supply Curve 00:38 Example - Supply Curve for Oil 01:00 Expensive vs. Cheaper Sources of Oil 01:30 Example - Supply Curve for Oil continued