1
Q
What is supply
A
The amount a producer is willing/able to supply at a given price in a given time period
2
Q
What causes a supply curve to shift
A
Productivity
Indirect tax
Number of firms
Technology
Subsidies
Weather/war
Cost of production
Economics
flashcards
Decks in class (13)
# Cards
-
1.1 The nature of the economic problem6
-
1.2 Factors of production7
-
1.3 Opportunity cost3
-
1.4 Production possibility curve4
-
2.2 The role of markets in allocating resources7
-
2.3 Demand4
-
2.4 Supply2
-
2.5 Price determination3
-
2.7 PED10
-
2.8 PES8
-
2.9 Market economic system5
-
2.10 Market failure13
-
2.11 Mixed economic systems2
