Final answer:
A shift in the supply curve signifies a change in supply, impacting availability, price, and quantity supplied.
Explanation:
A shift in the supply curve reflects a change in supply. When any determinant other than the price of the good itself changes, the entire supply curve shifts, indicating a change in supply rather than a movement along the curve.
Supply shifts can lead to increase or decrease in availability of a product or service, impacting equilibrium by changing price and quantity supplied.
Scarcity plays a role in supply shifts, influencing willingness to pay based on changes in availability.
Learn more about Supply Shifts here:
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