factor of shift SUPPLY Flashcards
1
Q
cost
A
cost of production + distributing the product
2
Q
size + nature of the industry
A
increaes industry in size __ INCREASE will be supplied to the market
3
Q
change in price of other products
a competitor INCREASE its price
A
= supply more products
- keep the price under control
4
Q
change in price of othe products
a competitor DECREASE its price
A
- less products will be supplied
-> keep price unchanged
5
Q
government policy
A
new tax - reduction in supply
subsidies - INCREASE in supply
6
Q
other factors
A
agricultural markets
-> supply is always affected by uncertain weather condition
