Its important to know the
difference between a movement along a supply curve predicted by the Law of
Supply and a shift of the whole supply curve or short termed as a shift or
change of supply. What are two factors that will change the supply?
Movement along the supply curve is only brought about by changes in the price of that commodity under consideration
Changes in supply is brought about by factors like;
a)Changes in technology
b)Low cost of firm inputs
c) Favorable weather conditions for agricultural products
d)Changes in prices of substitutes or compliments in production
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