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1.2.2 Supply (Glossary (Mechanisation -, Automation -, Shock -, Indirect…
1.2.2 Supply
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External Shocks
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For example if the cost of oil increases this increases cost of production, may lead to job losses or cost cutting, will result in a decrease in supply
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Indirect taxes
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VAT, Customs tax , Excise tax are VAT / Customs tax / Excise tax are all indirect taxes and when applied to goods it makes supplying them less attractive.
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Supply is measured in terms of the quantity of a good that a producer able to make available on the market, at a given price, over a given period of time.