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WAEC Economics 1992 Question 29

Question 29

Theory of Supply

A change in supply implies a

  1. A.shift in the supply curve to the right and not to the left
  2. B.shift in supply curve to the left and not to the right
  3. C.shift in the supply curve to the left or to the right
  4. D.movement along the supply curve
  5. E.decrease in price and quantity supplied.
Show the answer and explanation

Answer: C (shift in the supply curve to the left or to the right)

Explanation

A change in supply is a shift of the whole curve – right for an increase, left for a decrease.