Question

What is the primary difference between a change in supply and a change in quantity supplied?

1) A change in supply refers to a shift in the entire supply curve, while a change in quantity supplied refers to a movement along the supply curve.
2) A change in supply refers to a movement along the supply curve, while a change in quantity supplied refers to a shift in the entire supply curve.
3) A change in supply and a change in quantity supplied are the same thing.
4) A change in supply and a change in quantity supplied are unrelated.

Answer 1

A change in supply shifts the entire supply curve and is caused by non-price determinants, while a change in quantity supplied is a movement along the supply curve due to a change in the price of the good.

Step-by-step explanation:

The primary difference between a change in supply and a change in quantity supplied is that a change in supply refers to a shift in the entire supply curve, whereas a change in quantity supplied refers to a movement along the supply curve. This means option 1) is correct. When non-price determinants of supply, such as technological improvements or changes in production costs, alter the supplier's ability to produce goods, this causes the whole supply curve to shift, indicating a change in supply. On the other hand, a change in quantity supplied is caused by a change in the price of the good itself, leading to a movement along the supply curve without shifting it.