Factors of Supply

Factors of Supply

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  • Changes in Taste
  • Yup, means a lot of competing for jobs then.
  • You guys hear about all those students majoring in civil engineering, architecture, etc.?
  • Changes to Alternate Opportunities
  • Hey did you hear that KFC is paying their employees more than them?
  • Really? No way, that's great. I'm gonna try for them too then.
  • I hope McDonald's will hire me, I really need the money
  • McDonald's
  • Immigration
  • Welcome to the US! I hope you can all find jobs.
  • If people change their views on something, then they might not endorse it as much, therefore the supply curve would shift right because either more people join because they became interested in the job, or left if they left because they found something better.
  • Different opportunities can cause shifts in one firm's supply curve as the people may see better opportunities elsewhere and leave that one firm.
  • Immigrants increase the amount of people looking for a job, therefore shifting the supply curve to the right.
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