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What is the difference between a shift and movement along the supply curve ?

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Final answer:

In economics, shifts of the supply curve are caused by factors other than price, while movements along the supply curve are caused by changes in the price of the good itself.

Step-by-step explanation:

In economics, shifts and movements along the supply curve represent changes in the quantity supplied at various price levels. A shift of the supply curve occurs when there is a change in factors other than price that affect the willingness or ability of producers to supply a good. For example, an increase in production costs would shift the supply curve to the left, indicating a decrease in supply.

On the other hand, a movement along the supply curve occurs when there is a change in the price of the good itself. This change in price leads to a change in quantity supplied. For example, if the price of a good increases, producers are willing to supply more of it, resulting in a movement along the supply curve to the right.

To summarize, shifts of the supply curve are caused by factors other than the price of the good, while movements along the supply curve are caused by changes in the price of the good itself.

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