What does a change in quantity supplied respond to?
Generally speaking, "quantity supplied" responds to demand (for that particular quantity).
As an example, each year in the United States, turkeys are bought for the Thanksgiving Day Holiday. The demand is normally high. Should suppliers see a trend downward in the demand, ( say there is a disease found in turkeys ) then the demand will be reduced, and so will the supply of turkeys.
No comments:
Post a Comment