Theory of Supply — Economics STD 10 — Question

Decrease in supply refers to a fall in the supply of a commodity caused due to any factor other than the own price of the commodity.
Decrease in supply may be caused by any of the following reasons:
(i) Rise in input prices resulting in an increase in cost of production.
(ii) Rise in prices of other goods making their production more profitable. It becomes less profitable to produce the given commodity.
(iii) Technology becoming outdated causing increase in cost of production and hence decrease in supply.