Reference Entry

adverse supply shock

Edited by John Black, Nigar Hashimzade and Gareth Myles

in A Dictionary of Economics

Fourth edition

Published in print January 2012 | ISBN: 9780199696321
Published online May 2013 | e-ISBN: 9780191759130
adverse supply shock

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An unexpected shift of the supply curve to the left, i.e. a reduction in the quantity supplied for any given price. This could result from natural disasters such as floods or earthquakes; from human, animal, or plant diseases; or from major political upheavals such as war or revolution. To oil importers, the sudden price increases imposed by the ...

Reference Entry.  110 words. 

Subjects: Economics

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