Graphing Supply

The Law of Supply

P QS

P QS

Step #1• Draw an standard y-axis

• Label the y-axis “Price”

Price

Step #2• Draw an standard x-axis

• Label the x-axis “QS”

Price

QS

Step # 3• Draw a standard supply curve

• Label the curve “S1”

Price

QS

S1

Step #4• Read the problem

• What determinant of supply is dictating the shift in supply?

• Draw the shift in supply.

Step #5

Graphically depicting shifts in supply

An increase in supply

Price

QS

S1

S2

A decrease in supply

Price

QS

S1

S2

Step # 6

• Label the determinant