An Introduction to Supply
The Production Function
Measures of Cost
Applying Cost Principles
Marginal Analysis and Profit Maximization
100

A chart that lists how much of a good a supplier will offer at various prices.

What is Supply Schedule?

100

Total output produced by a firm.

What is Total Product. 

100

Costs that are independent of volume.

What is Fixed Cost?

100

a method of buying and selling goods and services online.

What is e-commerce?

100

tells you exactly how much money your business generates before expenses.

What is Total Revenue?

200

The principle that suppliers will normally offer more for sale at high prices and less at lower prices.

What is the Law of Supply?

200

A level of production in which the marginal product of labor decreases as the number of workers increases.

What is diminishing marginal returns?

200

The ongoing costs to operate a business but excludes the direct costs associated with creating a product or service.

What is Overhead?

200

The point at which cost and income are equal and there is neither profit nor loss

What is the Breakeven?

200

is the one at which the marginal revenue of the last unit was exactly equal to the marginal cost.

What is the profit-maximizing quantity?

300

A graph showing the various quantities supplied at each and every price that might prevail in the market.

What is the Supply Curve?

300

Unprocessed natural products used in production.

What is raw materials?

300

the cost added by producing one additional unit of a product or service.

What is Marginal Cost?

300

a browser-based software package for human-machine interfaces.

What is Web Access?

300

the net revenue a business earns by selling an additional unit of its product.

What is marginal revenue?

400

A government payment to an individual, business, or other group to encourage or protect a certain type of economic activity.

What is a subsidy?

400

Increasing returns, diminishing returns, and negative returns.

What is stages of production?

400

The minimum financial cost of producing some quantity of output.

WHat is Total Cost

400

the total expenses that are incurred in the production of goods or services by any individual or organisation. 

What is Cost?

400

an examination of the associated costs and potential benefits of specific business activities or financial decisions

What is Marginal Analysis?

500

The amount that producers bring to market at any given price.

What is quantity supplied?

500

A period of production that allows producers to change only the amount of the variable input called labor.

What is a short run?

500

The cost is an expense that changes in proportion to production or sales volume

What is Variable Cost?

500

the physical process of transporting commodities and merchandise goods and cargo.

What is Shipping?

500

a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.

What is profit?