Question #42738
Distinguish between supply and quantity supplied.Suppose,due to cyclone,the vegetable gardens nearby your city have been damaged severely.Explain how this natural calamity affected the supply of your vegetables in your city.Use graphs.
Expert's answer
Answer on Question #42738, Economics, Microeconomics
The difference between supply and quantity supplied is quite bleak and is reflected the shift of the supply curve or a movement along the curve. A change in supply refers to a shift in the supply curve, due to non-price factors such as the availability of resources. A change in quantity supplied reflects a shift along the existing supply curve because of changes in price.
If due to cyclone the vegetable gardens nearby the city have been damaged severely, the supply will decrease, as it is shown below.
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