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Supply (Supply shifts (Government indirect taxes (VAT, Corporate tax),…
Supply
Supply shifts
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Quantity, quality and efficiency of the factors of production
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The basic law of supply: price of a commodity rises, so producers increased their supply onto the market.
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If price falls, there is a contraction in supply
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Definition: Supply is defined as the quantity of a product that a producer is willing and able to supply onto the market at a given price in a given time period.
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