| Supply: The quantity of goods/service that will be produced during a given amount of time, across various prices. |
| Law of Supply: As the price of a good/service increases, the quantity produced will increase. |
A Typical Supply Curve
| Demand: The quantity of goods/service that will be purchased during a given amount of time, across various prices. |
| Law of Demand: As the price of a good/service increases, the quantity purchased will decrease. |
A Typical Demand Curve
