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SUPPLY (SHIFT IN SUPPLY CURVE (Technology, Expectations, Input Prices,…
SUPPLY
LAW OF SUPPLY
other things equal
Price :arrow_up: => Quantity supplied
:arrow_up:
QUANTITY SUPPLIED
amount of good
sellers are
willing and
able to sell
SUPPLY CURVE
slopes
upward
relationship between
price and quantity supplied
direct (positive)
relationship
SHIFT IN SUPPLY CURVE
Technology
Expectations
Input Prices
Number of Sellers
Climatic Changes
MARKET SUPPLY
the sum
of supplies of all sellers
Change in Quantity Supplied
Caused by
PRICE
MOVEMENT
Change in Supply
SHIFT
NON-PRICE FACTORS
