Make a distinction between the following concepts and

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Engineering Fundamentals: An Introduction to Engineering
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Chapter 6 / Exercise 2
Engineering Fundamentals: An Introduction to Engineering
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2. Make a distinction between the following concepts and also list factors that might cause each:
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Engineering Fundamentals: An Introduction to Engineering
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Chapter 6 / Exercise 2
Engineering Fundamentals: An Introduction to Engineering
Moaveni
Expert Verified
b. Change in quantity supplied vs change in supply: change in quantity supplies is when there is a movement from one point to another point on the same supply curve, and it is caused by a change in price of the good. A change in supply is a shift of the supply curve caused by a factor other than the price of said good. Factors: Prices of relevant resources, Technology, Prices of Other Goods, Number of sellers, Expectations of future prices, Taxes and subsidies, Government restrictions

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