Supply and Stuff

                      This week in Economics, we learned about Supply. It is the willingness and ability of producers to offer goods and services for sale. We were taught about the law of supply as well, along with supply schedules and graphs. Making a supply schedule is a lot of hard work!! You have to calculate marginal cost, marginal revenue, total cost, total revenue, and so much more! It can be very tricky if you aren't paying attention! I got lost once or twice. Supply is very much like demand, so it was pretty easy to understand the concept. There was even 6 factors that change supply, like demand did. They are: technology, producer expectations, number of producers, input costs, labor productivity, and government actions. Also, our awesome teacher allowed for us to be producers of scooters in order for us to learn about supply!! That was the best part of this week's class. My group made "The Rock." It is an awesome vehicle that can do pretty much anything. I want it so badly!!!! You should get it ;) Then we learned about supply by making graphs and schedules for this. It was very helpful! I hope we do something this simple and interesting again! Overall, this is really helpful and has given me insight to the complexity of businesses and how they work.