Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
A possible explanation for a change in supply from S2 to S1 is
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Introduction
The quantity of units of goods or services that a provider is willing and able to bring to market for a certain price is referred to as supply in economics. Stock availability and the determiners driving supply have an impact on a company's willingness and capacity to provide products to the market. The market equilibrium is also affected by price changes. More supplies will arise from an increase in price, while a decrease will have the reverse effect.
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