Supply: Supply represents the quantity of goods or services that producers are willing and able to offer for sale at different price levels during a specific period. It shows the relationship between price and quantity supplied.
Elasticity: Elasticity measures the responsiveness of demand (or supply) to changes in price or other factors. It helps determine how sensitive consumers are to price changes and how much quantity demanded will change as a result.
Substitutes and Complements: Substitutes are goods that can be used in place of each other, such as Coke and Pepsi. Complements are goods that are consumed together, like peanut butter and jelly. Changes in the prices of substitutes or complements can affect the demand for a particular product.