Supply is one of the most fundamental terms in economics. All other things being constant, supply is the amount of goods a producer is willing to produce at a given price. On a graph where quantity is on the X-axis and price on the Y-axis, a supply curve slopes upward from left to right. This upward sloping curve reflects the notion that a producer is willing to produce more of a product as the price it can get for that product increases. That is classic profit maximization.While price is the most important element influencing supply, other factors have an influence as well. These include the price of a product’s raw material inputs, the price of related products, production technology advances, the number of similar suppliers, and government regulations affecting the supplier’s industry. In economics, supply is always studied in conjunction with demand. On the graph, a demand curve slopes downward from left to right, indicating that demand increases as price decreases. Every good in every market has its own supply and demand curves. The price for that good is based on the relation of these two curves. Initial price and quantity move along the two curves until they reach the point where the two curves intersect. At this point, supply equals demand. The price has reached a point where consumers are demanding just as much of the good as suppliers are willing to produce. When supply equals demand, the good is said to be in equilibrium.