On most supply curves, as the price of a good increases, so does the quantity supplied.#
- Supply curves can often show whether a product will rise or fall in price based on demand, and vice versa.
- The supply curve is flatter (closer to horizontal) for products with more elastic supply and steeper (closer to vertical) for products with less elastic supply.
- The supply curve, along with the demand curve, are key components of the law of supply and demand.