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5 Cards in this Set
- Front
- Back
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Make item easier to make more marginal cost of making more of something is reduced.
cost decrease, supply increase cost increase, supply decrease |
Technology
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Land, Laber, and captal
material wages man made material cost increase, supply decrease cost decrease, supply increase |
Price of input
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extra cost, supply less
gov. gives money to help out supply is more if gov. wants something, or if they don't |
Taxes and Subsidies
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an opertunity cost, a choice
what should farmers grow? Corn or beans? which ever he can make the money on. |
Price of related goods
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More sellers equal is greater supply
fewer sellers equals less supply |
Population: number of sellers
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