Factors that may shift the supply curve

Question 1

what are ventures

Answer 1

new business activities or projects which involve takin risk

Question 2

what are the factors which cause a shift in the supply curve (5)

Answer 2

CINST
Cost of production
Indirect Taxes
Natural Factors
Subsidies
Changes in TECH

Question 3

how would cost of production affect the supply curve

Answer 3

the quantity supplied of any product is influenced by the cost of production, assuming the price is fixed, if prodution costs rise the quantity supplied will fall, if prduction costs fall then selling will be more profitable and if the prices are fixed, supply will rise

Question 4

what are some factors of production which may hinder supply

Answer 4

any lack of production factors such as land labour and capital can also affect supply

Question 5

what are indirect taxes

Answer 5

taxes levied on spending such as VAT

Question 6

how do indirect taxes affect the supply curve

Answer 6

Indirect taxes are there to either increase government revenue, discourage harmful consumption of goods/services, or to discourge environmental damage, Indirect taxes represent cost to firms, if taxes rise then the supply will fall due to less consumption of that service or good, leading to elss revenue, and vice versa, this is due to people getting taxed, like VAT, on goods, which makes it unappealing to buy causing the business to lose

Question 7

what is a subsidy

Answer 7

a grant of money given to a businesses to encourage a products production, support domestic fims, lower costs for a particular good

Question 8

how do subsidies effect the supply curve

Answer 8

subsidies usually boost supply, by reducing production costs, is all commen sense im too tired to type

Question 9

how does changes in technology affect the supply curve

Answer 9

over periods of time, technology can advance and companies can start inveesting into better technology, this technology can reduce production costs for example robotic labour force or analysis machines to calculate better yield, this can increase supply as there will be lower production costs so the output and revenue will be greater, more products using less cost

Question 10

how can natural factors affect supply curve

Answer 10

the production of some goods, mainly organic goods and primary sector goods, can be hindered due to natural reasons, such as pests and natural disasters hurricanes can destroy crop fields or avalanches can destroy coal mines, this would destroy product, lessening the supply