Supply Curve
Graphical representation showing relationship between price and quantity supplied.
Real World
When Typhoon Hainan damaged Vietnamese coffee crops in 2023, the supply curve for coffee shifted left, reducing quantity supplied at every price level and pushing global coffee prices higher.
Exam Focus
State whether non-price factors cause a 'shift left' or 'shift right' and always explain the consequent change in equilibrium price and quantity.
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