Movement along the Supply Curve is an indication of a change in Quantity Supplied.
If the world tilts to the left...
just lead to a shift in the supply curve.
Changes in a producer's technology can lead to a SHIFT in the supply curve.
true
there are few things that can affect a movement among the supply curve; for instances prices, low rate of income or inferior goods.
If the world tilts to the left...
just lead to a shift in the supply curve.
Changes in a producer's technology can lead to a SHIFT in the supply curve.
true
there are few things that can affect a movement among the supply curve; for instances prices, low rate of income or inferior goods.
Movement up along the supply curve.
the price of a product
A change in price level would cause movement along the demand curve, but would not cause the curve itself to shift.
explain graphically the movement along the demand curve
There is two types of increase for supply. 1) Movement along the demand curve (upwards or downwards) which is subjected to the shifting of the demand curve 2) Shift of the supply curve. For the first case, the supply curve does not shift but there is increased production to meet the new market demand. Supply will increase as there is a upward movement along the supply curve, and until the new market equilibrium is achieved. For the second case, Supply shifts right and hence the upward movement along the demand curve.
An increase in the supply is not represented by a movement up the supply cuve. A movement up supply curve is due to the increase in quantity supplied instead of the increase in supply. Alternatively, it can also be due to increase in the price of the goods that could lead to movement up the supply curve.
A contraction of supply is a movement of the supply curve to the left.