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Factors Affecting Future Supply of Raw Materials


Explain why the supply of a raw material such as oil may rise in the future.


Macroeconomic Factors and Policies

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I. 🍃Introduction
- Definition of economics
- Importance of understanding supply and demand

II. Factors affecting supply
- New supplies discovered through investment
- Price incentives for suppliers
- Technological advances and wage cuts reducing costs
- Government subsidies

III. Impact on market equilibrium
- Increase in supply leading to lower prices
- Decrease in supply leading to higher prices
- Shifts in supply curve affecting equilibrium price and quantity

IV. Examples of supply and demand in action
- Oil industry
- Agriculture
- Technology

V. 👉Conclusion
- Recap of factors affecting supply
- Importance of understanding supply for economic decision-making

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