Factors Affecting Supply Flashcards
Changes in price probability of good with competing services
Netflix increasing the subscription bill
Could imply it’s not doing well
LG Tv make more HD Tv and fewer fridges
Firm expectation of future prices / events
Costirica have increased supple of renewable energy
Firm expectation of future price levels may
Changes in price of oil
Change in wages
Changes in the state of technology
Conveyer belts in factories increasing supply of electronics
Changes in price / probability of goods with competing services
Netflix increasing its subscription
Bill
LG make more HD TVs and fewer fridges
Firm expectations of future price levels
Costs rice have increased supply of renewable energy
Changes in costs of production
Change in the price of oil
Changes in wages
Changes in the state of technology
Robots flipping burgers
Supply of electronics
Conveyer belts
If demand and price has decreased what happens
Left wards shift
D1 like on top
If demand has increased and price has increased
Right wards shift
D2 line is on top
What happens when there is only a change in price
Movement along demand curve
Non price factor
Shift along the demand curve
What are the 4 things affecting supply
Pect
Changes in price
Firm expectations about the future
Changes in the cost of production
Changes in the state of technology
What are the 7 things that affect the demand curve ?
Septic
Substitute goods
Expectations about the future
Population increase
Taste and preferences
Income of consumer
Price in complementary good
Changing price / availability of complementary good
