shift in supply

Question 1

shifts in supply technology

Answer 1

with the help of new technology (added factor of production) producers are able to supply more therefore supply curve will shift outwards to the right
increase in supply

Question 2

shift in supply weather

Answer 2

if the weather is detrimental it will ruin on of our factors of production- particularly land therefore producers will be less able to supply therefore the supply curve will shift to the left and a decrease in supply

Question 3

shifts in supply costs

Answer 3

if the price of producing goes up this means producing the good is more costly meaning firms make less profit therefore supply of the good may decrease. As they may attempt to supply alternative similar goods
or they may not have the money to buy the factors of production for the good

henceforth if the cost of producing a good went down the supply curve would shift to the right supply will increase
firms can make more profit and can afford more factors of production

Question 4

number of suppliers & productivity

Answer 4

if the number of suppliers supply will increase and if there are fewer supplier the supply would decrease
in terms of division of labour if firms would become more specialised this would increase productivity shifting supply curve to the right although if they get demotivated and disinterested supply would decrease and shift to the left

Question 5

in summary what are the factors affecting supply

Answer 5

Technology. Weather . Costs . Number of suppliers . Productivity