Supply

Movement of the supply

curve might be affected
by few factors;

Definition of Supply;
Supply is the quantity of a good or service producers are able and willing to supply to a
market at a given price. An increase in price will usually lead to an increase in the quantity
supplied and thus there is a positive relationship between price and supply.
Movement of the supply curve (extension/contraction)

Joint Supply;

Cost of
production;
This is the key
factor that shifts
the supply curve.
An increase in the
price of factors of
production will
decrease supply,
and a decrease in
the price of factors
of production will
increase supply. An
increase in the
productivity of
factors will
increase supply.
Technology ;
Technological

An economic term referring to a product or process that can yield two or more outputs. Common examples
occur within the livestock industry: cows can be utilized for milk, beef and hide; sheep can be utilized for
meat, wool and sheepskin. If the supply of cows increases, so will the supply of dairy and beef products
Where joint supply exists, the supply and demand for each product is linked to the others originating from
the same source. For example, if demand increases for wool, and sheep farmers therefore raise more
animals for wool, there will eventually be increased sheep meat production, resulting in greater meat supply
and potentially lower prices.