A set of factors that can shift the supply curve are changes in
ECONOMICS
JAMB 2010
A set of factors that can shift the supply curve are changes in
- A. weather, price and technology
- B. technology, weather and population
- C. technology, price and taste
- D. population, price and taste
Correct Answer: B. technology, weather and population
Explanation
A shift in the supply curve is brought about by a change in supply. Changes in production cost and related factors can cause an entire supply curve to shift right or left. A supply curve will shift to the right when there is an increase in the change in supply, and it will shift to the left when there is a decrease in the change in supply. Some of the factors that may cause a supplier to be unable to supply to the market include; - changes in the costs of production. - changes in technology. - population size. - government taxes/subsidies/regulations. - weather conditions. - wars/disaster
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