consideration. Law of Supply-$ rises, quantity supplied rises, $ falls, quantity supplied falls. Supply curve slopes upward b/c $ rises, quantity rises (vice versa).Determinants of supply-resource $, technology, tax & subsidies, $ of other goods, price expectations, # of sellers in market-Supply rises, curve right, supply falls, curve left-change in supply-change in entire supply schedule & shift of entire curve b/c of change in 1+ determinants-Change in quantity supplied-movement from one point to another on fixed supply curve b/c of change in $ of specific product under consideration-Price rises, production rises, consumption falls-competition narrows price range so companies can still make profit, consumers buy more when $ reasonable & production is moderate still for company-competition sets bar as voice from consumers as to what we are willing to pay. A. The construction & use of capital to aid in production of consumer goods-Roundabout prod.-most efficient in type of business-ex. Farmer & tractor vs. farmer with own hands to harvest crop-B. Division of Labor-human specialization-C. Advantages of specialization-makes use of differences in ability, fosters learning

Some topics in this essay:
Law Supply-$, Proprietorshipb Partnership, Law Demand-price, Res Insures, Market System-profit, Market System-the, Supply US-backed, Res System-issue, Pres Senate-appoint, Fed Res=pension, fed res, demand curve, b/c change, 1+ determinants-change quantity, actual reserves, $ supply, $ related, price quantity, supply curve, curve slopes, curve b/c change, b/c change 1+, change 1+ determinants-change, control $,