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“UNIVERSITY OF ECONOMICS AND PEDAGOGY’’
‘’Economics, pedagogy and engineering’’ faculty
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INDEPENDENT WORK
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Karshi-2022

2022

Changes in supply

Plan:

• Plan:
• 1.Definition of Supply
• 2.What Causes Change in Supply?
• 3.What are the Factors Behind it?
• 4.Summary
• 5.References

• Change in supply refers to a shift, either to the left or right, in the entire price-quantity relationship that defines a supply curve.
• Change in supply refers to a shift, either to the left or right, in the entire price-quantity relationship that defines a supply curve.
• Essentially, a change in supply is an increase or decrease in the quantity supplied that is paired with a higher or lower supply price.
• A change in supply can occur as a result of new technologies, such as more efficient or less expensive production processes, or a change in the number of competitors in the market.
• A change in supply is not to be confused with a change in the quantity supplied.

What Is Change In Supply?
Understanding Change in Supply
A change in supply is an economic term that describes when the suppliers of a given good or service alter production or output. A change in supply can occur as a result of new technologies, such as more efficient or less expensive production processes, or a change in the number of competitors in the market.
A change in supply leads to a shift in the supply curve, which causes an imbalance in the market that is corrected by changing prices and demand. An increase in the change in supply shifts the supply curve to the right, while a decrease in the change in supply shifts the supply curve left. Essentially, there is an increase or decrease in the quantity supplied that is paired with a higher or lower supply price.
A change in supply shouldn't be confused with a change in the quantity supplied. The former causes a shift in the entire supply curve, while the latter results in movement along the existing supply curve.
The general consensus amongst economists is that these are the primary factors that cause a change in supply, which necessitates the shifting of the supply curve:

• Number of sellers
• Expectations of sellers
• Price of raw materials
• Technology
• Other prices