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<h2>Change in Quantity Supplied</h2>
<p>This is a situation which is due to a rise or fall in the price of a commodity/service and it is described by a movement along the supply curve for the commodity/service.</p>
<div class="wp-caption alignnone" id="attachment_408046" style="width: 697px"><img alt="" class="wp-image-408046" height="317" src="https://data.ulearngo.com/assets/40147ee2-630a-4684-b165-dfb999d2e260" width="697"/><p class="wp-caption-text">Figure: Movement induced by an increase in commodity’s own price</p></div> <div class="wp-caption alignnone" id="attachment_408047" style="width: 680px"><img alt="" class="wp-image-408047" height="323" src="https://data.ulearngo.com/assets/8be991b0-99d5-43cd-a1c8-3b894cd3d18c" width="680"/><p class="wp-caption-text">Figure: Movement due to a decrease in commodity’s own price</p></div>
<h2>Change in Supply</h2>
<p>This is a situation which is due to a variation in any determinant of supply other than commodity/service own price and it is described by a shift in the supply curve for the commodity or service.</p>
<div class="wp-caption alignnone" id="attachment_408048" style="width: 634px"><img alt="" class="wp-image-408048" height="402" src="https://data.ulearngo.com/assets/4c05b44a-439b-4ab1-b115-78188d1774a8" width="634"/><p class="wp-caption-text">Figure: An increase in supply</p></div> <div class="wp-caption alignnone" id="attachment_408049" style="width: 615px"><img alt="" class="wp-image-408049" height="350" src="https://data.ulearngo.com/assets/69ae9a04-6d2b-4b60-9b06-6a6e8be05215" width="615"/><p class="wp-caption-text">Figure: A decrease in supply</p></div>
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Change in Quantity Supplied and Change in Supply

Economics studies social behavior guiding the allocation of scarce resources to meet the unlimited needs and desires of the individual members of a given society, and for the production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society. 

Economics

Explore the various determinants and types of supply, learn about how price elasticity of supply is measured, and discover the key factors that impact determinants of price elasticity of supply.


Change in Quantity Supplied and Change in Supply

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