Supply Flashcards
1
Q
Cost of production
A
The cost of production of A increase, so the supply decreases. Vise versa.
2
Q
Technology of production
A
When the technology of production advances, the cost of production decreases so supply increases. Vise versa.
3
Q
Weather
A
Good weather, supply increases. Vise versa
4
Q
Joint supply
A
When the price of beef increases the quantity supplied of beef increases and the supply of leather increases. Vise versa.
5
Q
Competitive supply
A
When the price of fries increases, the quantity supplied of the fries increases and the supply of hash brown decreases. Vice versa. 
6
Q
Sales tax
A
When sales tax is increases, the supply decreases. Vice versa.
7
Q
Subsidy
A
When subsidy increases the supply increases. Vise versa
