MYTUTOR SUBJECT ANSWERS

270 views

What factors can shift the supply curve and explain the impact of a change in one of these factors on the supply curve.

Different factors can shift the supply curve. It must be noted that changes in prices do not shift the supply curve, but causes a movement along the curve. In order to shift the curve, there must be changes in external factors that affect supply. 

Factors that can shift supply include: weather, cost of production, wages, government taxes/subsidies and  technology.

If the supply curve shifts to the right, there is an increase in supply and more is supplied at any given price. If the supply curve shifts to the left, there is a decrease in supply and less is supplied at any given price. 

For example if we consider favourable weather conditions, this will produce an increase in harvest for commodities such as wheat. This means there will be an increase in the supply, causing a shift to the right (outwards shift). At any given price more wheat can be supplied, therefore increasing quantity supplied. 

Shona S. A Level Economics tutor, A Level Biology tutor, GCSE Biology...

7 months ago

Answered by Shona, an A Level Economics tutor with MyTutor


Still stuck? Get one-to-one help from a personally interviewed subject specialist

68 SUBJECT SPECIALISTS

£20 /hr

Florence A.

Degree: Politics, Philosophy and Economics (Bachelors) - Exeter University

Subjects offered: Economics, -Personal Statements-

Economics
-Personal Statements-

“Hi, my name is Florence! I am a PPE student and I would love to share my knowledge and exam tips with you to help you achieve the best grades possible! ”

£20 /hr

Veleka G.

Degree: Philosophy and Politics (Bachelors) - Durham University

Subjects offered: Economics, History+ 2 more

Economics
History
English Literature
-Personal Statements-

“About Me:My name is Veleka and I'm a first year Philosophy and Politics student at Durham University. I would describe myself as highly energetic and very positive, but I am also very demanding anddedicated to help every student achi...”

£20 /hr

Robert C.

Degree: Economics & History (BA) (Bachelors) - Leeds University

Subjects offered: Economics, Latin

Economics
Latin

“I'm a tutor passionate about my subjects and keen to help others discover that same passion!”

MyTutor guarantee

About the author

£20 /hr

Shona S.

Degree: Economics (Bachelors) - Birmingham University

Subjects offered: Economics, Maths+ 1 more

Economics
Maths
Biology

“I am a second year Economics student, studying at University of Birmingham. At school I studied Economics, Maths and Biology for A levels and having enjoyed learning them, so I feel I will be able to enthusiastically teach these subje...”

You may also like...

Other A Level Economics questions

What characteristics might a perfectly competitive market have? Choose 3 (6 marks)

Why there is liquidity trap in the reality?

How many diagrams is it best to use in an extended essay?

What are the effects on UK businesses after an increase in fuel prices?

View A Level Economics tutors

Cookies:

We use cookies to improve our service. By continuing to use this website, we'll assume that you're OK with this. Dismiss

mtw:mercury1:status:ok