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The actual amount of a good or service that producers are willing to sell at some specific price.
A curve which show the relationship between quantity supplied and price.
Shift in the supply curve which results in a change in quantity supplied at every given price.
A change in quantity supplies of a good that is the result of a change in that good’s price.
As the price of a product increases, the quantity supplied _________increases_____________
[increases or decreases]
In the graph below, what causes the supply curve to shift from S1 to S2?
Economists believe that the shifts of the supply curve for a good or service are mainly result of five
factors…List them below
Entry of Vietnam into the coffee Bean business caused an increase in supply, hence an increase in
quantity supplied at any given price.
T- Technology
R- Related Prices
I-Input Prices
C-Competition
E-Expectations
What causes the movement from point a to point b?
Change in price.
TRICE factors.
Any event that increases the supply shifts the supply curve to the _____right____________[right or
left]
Any event that decreases the supply shifts the supply curve to the _______left__________ [right or
left]
Use the text on pages 62- 63 to complete the chart below with the main ideas that cause these factors
of supply to change
The sum of the total quantity supplied by all individual producers of a good or service.