When Is the Supply Curve Likely to Shift Outwards

question 10

Multiple Choice

When is the supply curve likely to shift outwards?

• A) If productivity falls.
• B) If wage costs fall.
• C) If the number of producers decreases.
• D) If energy prices increase.

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Definitions:

Product Element

The specific components or features of a product that contribute to its ability to meet customer needs, including quality, design, brand, and functionality.

Marketing Mix

The set of controllable marketing tools - product, price, place, and promotion - that a company uses to produce the response it wants in the target market.

Market Share

The portion of a market controlled by a particular company or product, often expressed as a percentage of total sales.

Competitive Advantage

A unique attribute or ability that allows an organization to outperform its competitors.