1.2.4 Flashcards
1
Q
Supply
A
Supply is the quantity of a good/service that a producer is able and willing to supply at a given price during a given period of time
2
Q
Shifting the supply curve
A
PINTSWC
P-productivity
I- indirect taxes
N-number of firms
T-technology
S- subsidies
W-weather
C-costs of production
3
Q
Joint supply
A
When increasing the supply of one good cause and increase/decrease of supply of another good
