The supply curve of a good is a curve with the price on the axis and quantity supplied on the axis.

Your statement accurately describes the supply curve in economics. The supply curve illustrates the relationship between the price of a good and the quantity supplied by producers. Typically, the curve slopes upward, indicating that as the price increases, producers are willing to supply more of the good.

1. Axes Representation:

   • The vertical axis (Y-axis) represents the price of the good.
   • The horizontal axis (X-axis) represents the quantity supplied.

2. Interpretation:

   • Each point on the supply curve shows how much of the good suppliers are willing to produce at a given price. This relationship is influenced by various factors, including production costs, technology, and the number of suppliers in the market.

3. Supply Curve Shape:

   • The upward slope reflects the law of supply, which states that there is a direct relationship between price and quantity supplied: higher prices typically incentivize producers to offer more of the good to the market.

In practice, shifts in the supply curve can occur due to changes in production costs, technology improvements, or changes in the number of suppliers, leading to a new equilibrium price and quantity in the market.