Supply
Individual and market supply, supply curves, movements along a curve and shifts in supply.
How to study for GCSE Economics
Learn each definition and diagram as a causal model, practise calculations with units, apply evidence to the stated context and qualify conclusions with realistic trade-offs.
Core concepts
Concept 1
Supply is the quantity producers are willing and able to offer at a given price over a stated period.
Exam cue: Distinguish a higher market price from a change in a producer's cost.
Concept 2
A change in the product's own price causes a movement along the supply curve; costs, technology and other non-price factors shift it.
Exam cue: State whether supply increases or decreases and show the correct directional shift.
Concept 3
Market supply combines producers' supply, and changes in producer numbers, taxes, subsidies or conditions can shift it.
Exam cue: Trace a cost, tax, subsidy or technology change through profitability to supply.
Risk pitfalls and guardrails
Treating stock held by a firm as identical to quantity supplied.
Guardrail: Do not stop at a definition or generic advantage: show the mechanism, keep units and diagram labels accurate, and separate board-specific paper claims from the England common core.
Shifting supply because the product's own price changed.
Guardrail: Do not stop at a definition or generic advantage: show the mechanism, keep units and diagram labels accurate, and separate board-specific paper claims from the England common core.
Assuming better technology always reduces supply.
Guardrail: Do not stop at a definition or generic advantage: show the mechanism, keep units and diagram labels accurate, and separate board-specific paper claims from the England common core.
Memory anchors
Supply
Quantity willing and able to be offered at a price over a period.
Extension of supply
A higher own price causes movement up the existing supply curve.
Contraction of supply
A lower own price causes movement down the existing supply curve.
Supply shift
A non-price determinant changes supply at every price.
Cost link
Higher unit cost usually reduces profitability and shifts supply left.
Checkpoint rule
Do the check-up only after you can summarize each concept in one sentence and identify one dangerous pitfall from memory.
Knowledge Check (after reading)
Short check-up to confirm understanding of this module.
Check-up Questions
Supply means what in a market?
The market price rises and firms offer more output, with other factors unchanged. What is this?
Answer all questions to submit.
Next step personalized recommendations
Continue learning
Move forward only after this module is stable.
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