In addition to this factor there will be a shift in

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The opposite effect will happen with fewer producers. In addition to this factor, there will be a shift in supply when there is a change in producers’ expectation. This means, when the producer feels the public will demand more or less of their product, they will shift their supply accordingly. A change in technology will also affect supply. When technology advances, the supply will increase in order to keep up with the new technology. In addition to technology, a change in price of the resource will cause a shift in supply. If it costs more for a company to produce their product, then they will decrease their supply in order to still spend the same amount of money. Exogenous factors will also play a part in supply. When a natural disaster hits, it could wipe out a
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whole company or the crops for the season. In addition, weather and war fall into this category. This factor ties into the article I read dealing with corn and its decreasing supply level. Since our country has experienced extremely dry weather over the past few months, there will only be 12.97 billion bushels to be harvested instead of 14.79 billion
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