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:

Vendor Evaluation

The process of assessing and reviewing suppliers based on their price, quality, reliability, and service to select the best vendors for a business.

Market-Based Price Model

A pricing strategy that considers the prices of competitors and market demand to set the price of a product or service.

Channel Assembly

A system that postpones final assembly of a product so the distribution channel can assemble it.

Bullwhip Effect

A phenomenon in supply chains where minor fluctuations in demand at the retail level cause increasingly larger fluctuations in demand at the wholesale, distributor, and manufacturer levels.