Question

Explain what is meant by a shift in the supply curve.

Answer 1

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

Step-by-step explanation:

Answer 2

Most of the time, when there is a shift in a supply curve, what is really happening is that production costs are moving one way or another.

This causes the curve to shift as either more or less goods will be created and demanded.

Economic curves shift whenever there is a change in the inputs, regardless of a supply or a demand curve.