Final answer:
Movement along the supply curve indicates a change in quantity supplied due to a change in the price of the good itself. A shift in the supply curve happens due to other factors like changes in production costs or technology. In the labor market, technological advances might shift the supply curve, while changes in wages cause movement along it.
Step-by-step explanation:
Movement along the supply curve refers to a change in the quantity supplied brought on by a change in the price of the product itself, while all other factors remain constant. When the price of a good increases, there is an upward movement along the supply curve, indicating a greater quantity supplied. Conversely, when the price decreases, there is a downward movement along the curve, indicating a lesser quantity supplied.
In contrast, a shift in the supply curve occurs when there are changes in factors other than the price of the good. Factors that can cause a shift include changes in production costs, technological advances, or the number of sellers in the market. For example, in the labor market, a change in technology that makes workers more productive could shift the supply curve to the right, indicating an increase in the supply of labor at every wage rate.