Determinants of the supply of good and services (3.1.4)

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  • Created by: lee42
  • Created on: 24-05-19 10:49
How would a rise in price affect supply?
A rise in price will lead to an increase in QD/Also called extention in supply
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What does the law of supply show?
It shows a rise in price incentive will make the firm increase its output
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What are the factors affecting supply? (PINTSWC)
P-productivity, I-indirect tax, N-number of firms in market, T-technology, S-subsidies W-weather, C-cost of production
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Card 2

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What does the law of supply show?

Back

It shows a rise in price incentive will make the firm increase its output

Card 3

Front

What are the factors affecting supply? (PINTSWC)

Back

Preview of the front of card 3

Card 4

Front

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Back

Preview of the front of card 4

Card 5

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