Basic supply determinants of other than price
Illustrate the 6 basic supply determinants of other than price?
Expert
The 6 basic supply determinants of other than price are:-
1. Resource prices—a rise in resource prices will cause a decrease in supply or leftward shift in supply curve; a decrease in resource prices will cause an increase in supply or rightward shift in the supply curve.
2. Technology—a technological improvement means more efficient production and lower costs, so an increase in supply or rightward shifts in the curve results.
3. Taxes and subsidies—a business tax is treated as a cost, so decline in supply; so increases in supply is a subvention lowers cost of production,.
4. Prices of related goods—if price of substitute manufacture good rises, producers might shift production toward the higher priced good which causes decrease in supply of original good.
5. Expectations—expectations about the future price of a product can cause producers to increase or decrease current supply.
6. Number of sellers—generally, the larger the number of sellers the greater the supply.
Briefly explain the term Price Earnings Ratio (or P/E Ratio)?
Please answer each of the exercises below. While you may work together on the homework, you must turn in your own work (in your own words). Homework must be handed in at the beginning of class on the due date unless other arrangements have been made. No late homework will be accepted. Homework wi
Illustrate several theories about causation?
Elucidate reallocation of resources?
Not between exact activities for government to undertake, according to Adam Smith, would be for the government to: (1) maintain public institutions and public works. (2) protect society by invasion. (3) serves as a medium for law and justice. (4) regu
I have a problem in economics on Circular flow model of the private sector. Please help me in the following question. The simple circular flow model of private sector doesn’t comprise: (i) Firms. (ii) Product markets. (iii) Government agencies.
Productive (technical) efficiency needs maximization of the: (i) opportunity cost of a specified value of output. (ii) resources used to produce a specified value of output. (iii) value of output produced for a given total cost. (iv) satisfaction atta
What are the 2 definitions of economics growth?
Give a brief introduction of the term Control Factor?
Explain how government might manipulate its expenditures and tax revenues to reduce unemployment?
18,76,764
1932847 Asked
3,689
Active Tutors
1429736
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!