Question

what is the market force or shift when the supply of oil changes, given improvements in drilling equipment?
○ government subsidies
○ supply shocks
○ technology
○ number of suppliers

Explanation:

Improvements in drilling equipment are a form of technological advancement. Technology can affect the supply - side of the market. When there are technological improvements in drilling equipment, it can lead to an increase in the supply of oil. Government subsidies are payments from the government, supply shocks are sudden changes often due to external events, and the number of suppliers is about the quantity of firms providing the product. Here, the key factor is technology.

Answer:

Technology