Here is the link for the animated gif file for the determinants of supply: http://www.reffonomics.com/determinatesofsupply.html
Some questions for you - ideas for discussion. And please feel free to answer others, too!
Post your own questions from class if you want!
1. Give one example from actual firms or industries for each of the factors that cause a change in supply.
2. Why does the supply curve slope upwards?
And some supply & demand questions:
3. If you were a seller, why would you want to limit supply - either by keeping out new market entrants or by establishing production quotas? Why would you hate that if you were a consumer?
4. If marijuana were legalized, what would happen to the supply and demand curves for the drug?
Always make sure to explain your answers! :)