supply curve

Diagrammatic illustration of the relationship between the price of the good and the quantity that producers will supply at that price. It is said to be upward-sloping because the higher the price, the more profitable existing production becomes, attracting new companies into the industry and thus increasing the quantity supplied.

The supply curve will shift to the right (indicating that firms are prepared to produce the same amount but charge a lower price) if, for example, there is a fall in the cost of production or an advance in technology that increases productivity.