Please enable JavaScript.
Coggle requires JavaScript to display documents.
AKS 24 (Supply and Quantity Supplied (Demand and Quantity Demanded…
AKS 24
-
-
-
-
-
-
Determinants of Supply
• Resource Prices
• Technological Advances
• Taxes and Subsidies
• Prices of Other Goods
• Price Expectations (the producer expects)
• Number of Sellers
-
-
Surplus and Shortage
If the price is set too low the supply would be sold before satisfying the demands of the market, causing a shortage.
The raising of prices too high will create surpluses because the demand is less than what sellers can offer.
