Question

Select the statement that corresponds to a shift in the supply curve.

• The amount of goods and services that are available at different prices at a certain moment in time

• Occurs when the price for a certain good changes and influences the quantity supplied

• The amount of goods and services that may be purchased at a certain moment in time at a specific income level

• A movement that occurs due to factors such as firms having more or less access to resources

Answer 1

Option D

Changes in the cost of inputs, natural disasters, new technologies, and the impact of government decisions all affect the cost of production.A positive change in supply when demand is constant shifts the supply curve to the right, which results in an intersection that yields lower prices and higher quantity. A negative change in supply shifts the curve to the left, causing prices to rise and the quantity to decrease. Shift occurs due to change in factors other than price.