What are five shifters of supply?

Answer 1

Five shifters of supply include changes in production costs, technology advancements, number of sellers, expectations of future prices, and government policies (such as taxes or subsidies). An increase in production costs can decrease supply, while improvements in technology can enhance it. A rise in the number of sellers typically increases supply, as does a positive change in government policies. Lastly, if producers anticipate higher prices in the future, they may reduce current supply to sell more later.