Final answer:
A shift in the supply curve is caused by changes in production costs, technological advances, the number of suppliers, expectations of future prices, and government policies. These factors affect the entire supply curve, causing it to shift left or right.
Step-by-step explanation:
A shift in the supply curve can be caused by several factors that affect the production and distribution of goods and services. These factors include:
- Changes in production costs, such as wages, raw materials, and other inputs.
- Technological advances that increase production efficiency.
- Changes in the number of suppliers.
- Expectations of future price changes that influence current supply.
- Government policies, such as taxes, subsidies, and regulations.
Any change in these factors can result in a shift in supply, which occurs when a change in an economic factor (other than the price of the good itself) causes a different quantity to be supplied at every price point.