Answer: 2
Explanation: You don't automatically gain foresight when you start a business
A <u>shift </u><u>of</u> the supply curve represents a change in supply while a <u>movement </u><u>along</u> the supply curve represents a change in the quantity supplied.
Supply is defined in economics as the total amount of a specified product or service offered to consumers by a supplier at a specified time and price level. This is usually determined by market movements. For example, increased demand may prompt suppliers to increase supply.
In economics, supply is the number of goods that an individual or firm makes available in the market. This refers to the amount you are producing at a particular point in time. For example, if Apple made 100 of its iPhones, that would be the product to be launched. Supply can refer to the quantity available at a particular price or the quantity available across the price range displayed on the chart.
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The natural level of output is the amount of real GDP produced b. when the economy is at the natural rate of unemployment.
Real GDP is essentially a measure of a country's total economic output, adjusted for changes in prices. The value of real GDP reflects a country's economic statistics at a macro level.
When real GDP produces natural output, that is, the output level is in line with the equilibrium of the labour market when the real price level is equal to the expected price level. Then the economy makes the most of its productivity, including fully utilized labour, which means that the economy is at the natural rate of unemployment.
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