List the Factors That Change Supply and Shift the Supply

question 193

Essay

List the factors that change supply and shift the supply curve. Tell what happens to supply and the supply curve when there is an increase in the factor.

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Definitions:

Accounting Data

Accounting data encompasses all the financial information and records of a business’s transactions, including sales, purchases, expenses, and revenues.

Reporting Entity Concept

An accounting principle that identifies the entity for which financial statements are prepared, distinct from its owners, managers, or other entities.

Business Organizations

Various legal structures used by entities to conduct business, including sole proprietorships, partnerships, corporations, and cooperatives, each with distinct rules, liabilities, and taxation policies.