Supply of Beer

As with demand, supply may be represented not only by a table of numbers, but also by a diagram or a mathematical equation. Here is a diagram of the estimated demand for beer. As before, we put the price on the vertical axis, and the quantity supplied on the horizontal axis.

Figure 4

Remember, also, that when we use the term "supply" we usually mean the entire supply curve or relationship, while if we refer to the quantity people want to sell at a particular price, we say the "quantity supplied."

An Interactive Illustration