Mnemonic Monday - Factors that shift supply
Monday, July 06, 2009
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Last week Innes looked at factors that cause the demand curve to shift, so it naturally follows that this week I should do factors that cause the supply curve to shift. I find students have more difficulty remembering supply factors, perhaps because it is less familiar to them.
The way I get my students to remember these is PINTS WC, I say you drink a pint of water and you need the WC!
Productivity
Indirect taxes
Number of firms
Technology
Subsidies
Weather
Costs of production
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