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Economics 1.2.4 - Coggle Diagram
Economics 1.2.4
conditions of supply
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future expectations
if prices are expected to rise, producers may withhold goods until they actually rise, so they can make more revenue and therefore more profit
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number of sellers
if more sellers enter the market, the supply curve shifts right
Supply
the quantity of goods and services that producers are willing and able to supply at any given price in a period of time
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