Which of the following describes a leftward shift of the supply curve?

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Study for the GCSE Economics Exam with comprehensive flashcards and multiple choice questions. Each question includes hints and detailed explanations. Prepare thoroughly for your exam!

A leftward shift of the supply curve indicates a decrease in the quantity of a good or service that suppliers are willing to produce and sell at various price levels. This often occurs due to factors such as increased production costs, a reduction in the number of suppliers, or adverse external conditions affecting supply.

In this context, the description of a decrease in supply at a higher price accurately reflects a leftward shift in the supply curve. If suppliers are producing less even as prices rise, it demonstrates that they are less willing or able to supply the good compared to before. This situation aligns perfectly with the concept of a leftward shift in the supply curve, illustrating how external factors can impede supply despite higher market prices.

In contrast, the other options describe scenarios that either suggest an increase in supply or a stable condition, neither of which corresponds to a decrease in supply or a leftward shift of the supply curve.

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