When a non-price factor changes--such as technology, expectations, prices of related goods, prices of inputs, or the number of sellers, there is a change in

When a non-price factor changes--such as technology, expectations, prices of related goods, prices of inputs, or the number of sellers, there is a change in supply, which results in a shift in the supply curve.

Let's break down how each of these non-price factors can affect supply:

Technology: Advancements in technology can lead to more efficient production processes, reducing the cost of production. This can result in an increase in supply, shifting the supply curve to the right. Conversely, technology that makes production more expensive or less efficient could decrease supply, shifting the curve to the left.

Expectations: If producers expect higher prices for their goods in the future, they might decrease supply now in anticipation of selling more in the future at those higher prices. This would shift the supply curve to the left. Conversely, if they expect prices to fall in the future, they might increase supply now, shifting the supply curve to the right.

Prices of Related Goods: If a firm produces multiple products, the price of one can affect the supply of another. For instance, if the price of beef rises, a rancher might decide to supply more beef and less leather, leading to a decrease in the supply of leather.

Prices of Inputs: If the cost of production inputs (like raw materials, labor, etc.) increases, it becomes more expensive for producers to supply their goods, which could lead to a decrease in supply (shift to the left). On the other hand, if input costs decrease, the supply might increase (shift to the right).

Number of Sellers: If more producers enter the market, the overall market supply will increase, shifting the supply curve to the right. Conversely, if sellers leave the market, the overall market supply will decrease, shifting the supply curve to the left.

In summary, when non-price factors change, there is a change in supply that results in a shift of the supply curve either to the right (increase in supply) or to the left (decrease in supply).

Consider the following events: The price of cell phones goes down by 25 percent during a sale. This event would cause a

Consider the following events: The price of cell phones goes down by 25 percent during a sale. This event would cause a movement along the demand curve, rather than a shift in the demand curve.

When the price of a good changes but other factors remain constant, it results in a movement along the demand curve. This is termed as a "change in quantity demanded."

So, if the price of cell phones goes down by 25 percent during a sale:

Increase in Quantity Demanded: There will be an increase in the quantity demanded for cell phones. At the lower price, more consumers will be willing and able to buy cell phones.

Movement Along the Curve: This change is represented by a movement from one point to another along the demand curve, moving downward (from a higher point to a lower point) to represent the increased quantity demanded at the lower price.

On the other hand, shifts in the demand curve are caused by non-price factors, such as changes in consumer preferences, income levels, prices of related goods (substitutes or complements), expectations about future prices, population or demographics, and so on. If one of these factors changes, then the entire demand curve would shift either to the right (increase in demand) or to the left (decrease in demand).