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What is the #Supply (供给) Curve?

What is the #Supply Curve in #Economics?
Supply is the number of products currently available for sale.

In #Microeconomics, we often look at the supply of one company (how many that company has ready for trade).

In #Macroeconomics, we sometimes talk about Aggregate Supply (how many are up for sale in the entire market).

Below is a simple explanation of the Supply Graph and what you need to know!

Let’s say that Mike is buying pencils from Metro (Màidélóng)

We want to know what price should Mike offer?

Suipply Curve.jpg

This picture is very helpful! The light Green Line (supply 供给) tells us how many pencils Metro will have available for sale at each price.

Situation #1: The price is $3.00, Metro will have 30 pencils available for sale.

Situation #2: The price is $1.00, Metro will have 10 pencils available for sale.

Situation #3: The price is $4.00 and Mike wants 25 pencils. Can Mike buy those 25 from Metro?

Answer: Yes! Mike wants 25 pencils and Metro has 40 pencils. So Mike can buy 25 pencils at Metro for $4.

Situation #4: The price is $4.00 and Mike wants 50 pencils. Can Mike buy 50 pencils from Metro?

Answer: No! Mike wants 50 pencils, but Metro only has 40. So Mike can get 25 pencils or even 40 pencils. But he cannot buy 50 pencils for $4.00 because the store will not have enough.

So we could draw the picture like this:

Supply 2

So what is the Supply Curve?

It tells us the MAXIMUM (最大) number of products Metro will have available for sale at each price.
It tells us how many products Mike CANNOT buy.
It gives us an idea of what price we should choose. For example, if the price is $8.00, Mike can buy 80 pencils! But if the price is $1, he can only buy 5 pencils.

Law of Supply (供给法则) ~ When price increases (上扬), more products will be available for sale.

Tags: Business Vocabulary, Economics ESL, English Economic Terms, ESL for economics, ESL Vocabulary for Business, Law of Supply, Supply Curve, 供给, 供给法则

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Categories Business & Economics, Life, Teaching

Corporate Governance Vocabulary

31 Dec

Hello!

This semester I had the wonderful opportunity to introduce my International Business Management students to the concept of International Corporate Governance. They had studied the idea of corporate governance the previous semester, but it revolved significantly around US rules and regulations.

This time, my goal was to expand their understanding of Business Management, Corporate Law, and Business Ethics to an international level. The ultimate plan was for the students to understand the international parties, rules, and features of Corporate Governance. At the end, the students should be fully capable of doing the research and opening up legal, ethical corporations around the world.

Unfortunately, I teach ESL students; it quickly became clear that in order for the class to proceed some Corporate Governance-related vocabulary was necessary. Since I know many other students suffer from the same problem, I have decided to share with you the same vocabulary I shared with my students!

In the interest of helping English-speaking teachers or businesspersons trying to use Chinese, I have also included the Chinese translations my students provided for the words. While I cannot attest to the validity of the Chinese terms (I highly recommend you verify these terms in case you need to use them in an official capacity), perhaps they can help in general conversation. 🙂 If you find corrections, please let me know in the comments!

I’ll be updating the vocabulary page regularly over the next 15 weeks or so with new words (about 20-30 a week).

Click below to visit the Vocabulary Page