What are some current economic topics that relates to supply

What are some current economic topics that relates to supply and demand principles of microeconomics?

List the factors that affects it both long term and short term.

Factors affecting Demand in microeconomics:-

1) Price of commodity. (Negative relationship between price of commodity and its quantity Demanded.)

2) Price of other related goods. (Substitute goods and Complementary goods)

3) Income of consumer. (Income increases, Demand also increases and vice versa.)

4) Taste and Preferences of consumer.

5) Expectations of consumer in future regarding price of commodity (Future expectations)

Factors affecting Supply in microeconomics:-

a) Price of the commodity (Positive relationship between price of commodity and its quantity supplied)

b) Number of firms. (Increase in number of firms implies increase in market supply and vice versa.)

c) Goal of firm. (Profit maximization- decrease in supply and Sales maximization - increase in supply.)

d) Prices of factors of production (If factor prices increases, supply decreases and vice versa.)

e) Change in technology ( Improvement in technology leads to increase in supply and vice versa)

f) Expected future price by producer (Expected future price to increase in near future, current supply of commodity reduce and vice versa)

g) Government policy. (Subsidy increases supply whereas increase in taxation reduce the supply.)