supply

Question 1

supply

Answer 1

supply is measures in terms of the quantity of a good or service that a producer is willing and able to make available on the market, at a given price over a given time

Question 2

how does the introduction of new technology increase supply

Answer 2

mechanisms can increase volume produced

Question 3

how do indirect taxes decrease supply

Answer 3

government tax products such as petrol making production more expensive.

Question 4

gov. subsidies

Answer 4

gov. pays suppliers a certain amount to encourage them into the market e.g solar panels. reduces costs which increases supply

Question 5

equilibrium price

Answer 5

market price