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Transcript of Technology
New Technology makes production more efficent and less expensive. An example of improved technology effecting supply would be cars.
Before the early 1900's not many were made, but after an improvement in technology it revolutionized the prodution. One every day example would be the supply of computers.
Since most everyone owns a computer or laptop in America, the supply is lower because not enough people are willing to buy them. Another historical example would be the decrease in supply of horses.
Since cars and automobiles were taking over the transportation market, horse and buggies were no longer needed thus decresed in supply Another modern day example of an increase in supply would be ipods.
Apple frequently releases new types of ipods that have various updated features that many people are willing to buy. THE END