Question

Changes in supply are reflected in______of the supply curve, while changes in the quantity supplied are reflected in______along the supply curve.

Answer 1

Answer:

Shift in supply curve, movement along supply curve

Explanation:

A shift in supply curve occurs due to changes in other factors other than price . Examples include increase in cost on inputs(raw materials), increase in government taxes; these two will cause the supply curve to shift to the left. On the other hand, movement along supply curve is due to changes in price of the good or service supplied; the higher the price, the higher supply hence an upward movement along the supply curve.