The light-independant reactions of photosynthesis occur in the stroma of the chloroplast and involve the conversion of carbon dioxide and other compounds into glucose. The light-independent reactions can be split into three stages, these are carbon fixation, the reduction reactions and finally the regeneration of ribulose bisphosphate. Collectively these stages are known as the Calvin Cycle.
Glycerate 3-phosphate is reduced during the reduction reactions to a three-carbon sugar called triose phosphate. Energy and hydrogen is needed for the reduction and these are supplied by ATP and NADPH + H+ (both produced during light-dependent reactions) respectively. Two triose phosphate molecules can then react together to form glucose phosphate. The condensation of many molecules of glucose phosphate forms starch which is the form of carbohydrate stored in plants. However, out of six triose phosphates produced during the reduction reactions, only one will be used to synthesise glucose phosphate. The five remaining triose phosphates will be used to regenerate RuBP.
Second animation of the Calvin Cycle - Smith College
So how can these factors have an effect on the rate of photosynthesis? Lets start off with the light intensity. When the light intensity is poor, there is a shortage of ATP and NADPH, as these are products from the light dependent reactions. Without these products the light independent reactions can't occur as glycerate 3-phosphate cannot be reduced. Therefore a shortage of these products will limit the rate of photosynthesis. When the carbon dioxide concentration is low, the amount of glycerate 3-phosphate produced is limited as carbon dioxide is needed for its production and therefore the rate of photosynthesis is affected. Finally, many enzymes are involved during the process of photosynthesis. At low temperatures these enzymes work slower. At high temperatures the enzymes no longer work effectively. This affects the rate of the reactions in the Calvin cycle and therefore the rate of photosynthesis will be affected.