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Topic: Business
Number of pages / Number of words: 5 / 1339
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This law shows how a change in price can affect an individual’s desires or demand for any particular item.

Factors that lead to a change in Supply and a change in Demand

To analyze the factors that change supply one must first understand the difference between supply and quantity supplied. Supply “refers to a schedule of quantities a seller is willing to sell per unit of time at various prices, other things constant, while quantity supplied refers to a specific amount that will be supplied at a specific price” (Colander, 2008)...


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Supply “refers to a schedule of quantities a seller is willing to sell per unit of time at various prices, other things constant, while quantity supplied refers to a specific amount that will be supplied at a specific price” (Colander, 2008). Factors that can that affect how much will be supplied include the price of inputs used in production, technology, expectations, and taxes and subsidies...


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