What is meant by leftward shift of supply curve?

1.	What is meant by leftward shift of supply curve?
Answer» Answer: The rightward shift occurs in supply curve when the quantity of SUPPLIED commodity increases at same PRICE due to FAVORABLE CHANGES in non-price factors of production of the commodity. Similarly, a leftward shift occurs when the quantity of supplied commodity DECREASES at the same price.

Answer»

Answer:

The rightward shift occurs in supply curve when the quantity of SUPPLIED commodity increases at same PRICE due to FAVORABLE CHANGES in non-price factors of production of the commodity. Similarly, a leftward shift occurs when the quantity of supplied commodity DECREASES at the same price.

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What is meant by leftward shift of supply curve?

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