Determinants of Supply

An observer of this graph would say that it represents a(n):

• Decrease in supply

• Decrease in quantity supplied

• Increase in demand

• Increase in quantity supplied

Organize these determinants into the right categories

Groups:

(a) Determinants of Supply

,

(b) Determinants of Demand

• Consumer Income

• Number of Consumers

• Complimentary Goods

• Substitute Goods

• Technology Advancements

• Taxes

• Consumer Taste

• Profit opportunity making something else

• Subsidies

• Cost of Factors of Production

• Number of Sellers in the Market

• Consumer Expectations

• Government Policies

New robots make cars faster and cheaper will shift the?

• Supply Curve

• Demand Curve

Music labels stop making Cd's, Sony announces they no longer will make CD players.

• Supply Curve

• Demand Curve

Government subsidizes farmers to grow soy beans.

• Supply Curve

• Demand Curve

Five new car companies are started in the USA as American factories become more competitive.

• Number of sellers and shift in supply curve to the RIGHT

• Cost of Factors of Production and shift in supply curve to the RIGHT

• Number of sellers and shift in supply curve to the LEFT

• Cost of Factors of Production and shift in supply curve to the LEFT

What happens to the supply curve when a new technology reduces production costs?

• Shifts to the right

• Shifts to the left

• Remains the same

• Disappears

What is the effect on the supply curve when the government imposes a new tax on production?

• Shifts to the right

• Shifts to the left

• Remains the same

• Disappears

The number of wireless companies decreases and Verizon and AT&T merge to form one company.

• Demand Curve

• Supply Curve

1975 law required cars to run on unleaded fuel, production of lead cars stops.

• Supply Curve

• Demand Curve