Describe five factors that may cause a shift in a good’s supply curve. explain how other goods could impact the supply of a good. (Site 1)

Explanation:

Supply can be defined as the amount of goods a producer is willing to sell at a particular period of time.

The supply of goods is determined by price, the higher the price; the higher the quantity supplied, the lower the price; the lower the quantity supplied. This is because producers makes more Profits by selling at higher prices.

Supply curve is a curve that shows the relationship between quantity supplied and price.

Factors affecting the supply curve

1. Change in costs of production: The change in cost of production such as cost of labor and raw materials can shift the supply curve.

2. Number of sellers: Increase in the number of sellers will cause an increase in supply causing a shift in supply curve.

3. Supply of related goods: A change in the supply of related goods can either shift the supply curve to the right or to the left.

4. Weather: Some product are more supplied because of the increase in demand during a particular period especially agricultural product.

5. Government activities: The activities of the government such as taxes and subsidies will cause a change in cost of production thereby shifting the supply curve.

president thomas jefferson hoped that the embargo act of 1807 would the united states by demonstrating to britain and france their dependence on american goods, convincing them to respect american neutrality and stop impressing american seamen. instead, the act had a devastating effect on american trade.

the answer is they believed george iii would never give them their freedom.