Innovations in ____ cut production costs, increasing profitability. Automation and other technological advancements have contributed to lower unit costs and higher output at all price levels. - Technology, ____ is a key factor in supplying goods and services. For example, increasing product pricing makes it easier for manufacturers to increase supply. However, if agricultural product prices rise, farmers will find it difficult to expand supply because the _____ required to do so is far longer than for manufactured products. - Time, The supply of agricultural products is dependent on favorable ____ conditions. If the _____ is good, the supply of agricultural products will increase. - Weather, Government ____ can raise operating costs for businesses. - Taxes, ______ are monetary aid provided by governments to domestic enterprises. - Subsidies, If suppliers anticipate a higher market price for their goods in the future, they will withhold supply. Firms' anticipation of high or low pricing affect current supply conditions. - Price expectation, _____ is when firms are not only willing and able to supply the goods or services, they also have the finances to be able to produce them. - Effective supply,

Lesson_18

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