Supply Shift Factors Flashcards
1
Q
Price of the good itself
A
Makes supply go up
2
Q
Prices of alternative goods
A
Makes supply go down
3
Q
Price, quality, and availability of relevant resources
A
Makes supply go down
4
Q
Seller numbers and capacity
A
Makes supply go up
5
Q
Expectations for future price of the good
A
Makes supply go either up or down depending on the estimated price
6
Q
Technology
A
Makes supply go up
