Complete the following table. Only changes in prices cause along the supply curv

Question

Complete the following table. Only changes in prices cause along the supply curve. Change in other factors causes a shift.

Variable Decreases

change in a number of suppliers

Movement (   ) along supply curve

Movement (   ) along with a supply curve

change in technology

Supply shifts (   )

Supply shifts (   )

change in resources

changes in taxes and subsidies

Supply shifts ( )

Supply shifts (   )

change in prices of other goods

Supply shifts (    )

Supply shifts (     )

change in producer expectation

Supply shifts (    )

Supply shifts (    )

@ How does one go from an individual demand curve to a market demand curve?

Variable Variable Increases

Variable Decreases

change in a number of suppliers

Movement (   ) along supply curve

Movement (   ) along with a supply curve

change in technology

Supply shifts (   )

Supply shifts (   )

change in resources

changes in taxes and subsidies

Supply shifts ( )

Supply shifts (   )

change in prices of other goods

Supply shifts (    )

Supply shifts (     )

change in producer expectation

Supply shifts (    )

Supply shifts (    )

Explanation / Answer

Variable Decreases

change in a number of suppliers

supply shifts right

supply shifts left

change in technology

Supply shifts ( RIGHT )

Supply shifts ( LEFT )

change in resources

changes in taxes and subsidies

Decrease Taxation shifts a supply curve to the right.Decrease in  subsidies shifts a supply curve to the left

change in prices of other goods

Supply shifts ( left )

Supply shifts (right )

change in producer expectation

If sellers expect a higher price, then supply decreases.leftward shift of supply curve

If sellers expect a lower price, then supply increases.rightward shift of supply curve

The market demand curve is the summation of all the individual demand curves in a given market. It shows the quantity demanded of the good by all individuals at varying price points.Thus one can go from an individual curve to a market demand curve by just adding the individual demand curves.

Variable Variable Increases

Variable Decreases

change in a number of suppliers

supply shifts right

supply shifts left

change in technology

Supply shifts ( RIGHT )

Supply shifts ( LEFT )

change in resources

Supply shifts right supply shifts left

changes in taxes and subsidies

increasesTaxation shifts a supply curve to the left.Increase subsidies shifts a supply curve to the right

Decrease Taxation shifts a supply curve to the right.Decrease in  subsidies shifts a supply curve to the left

change in prices of other goods

Supply shifts ( left )

Supply shifts (right )

change in producer expectation

If sellers expect a higher price, then supply decreases.leftward shift of supply curve

If sellers expect a lower price, then supply increases.rightward shift of supply curve

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