Which of the following is NOT a factor determining supply...
Which of the following is NOT a factor determining supply?
Cost of production
Climatic condition or weather
Income of the producers
Number of producers
Technological development
Correct answer is C
Supply will be determined by factors such as
- price,
- the number of suppliers,
- the state of technology,
- government subsidies,
- weather conditions and
- the availability of workers to produce the good.
The income of the producer doesn't affect supply.
Total cost is the addition of ...
The elasticity of supply of perishable goods is ...
One of the disadvantages of division of labour is that? ...
Into which of these organization would you classify the International Monetary Fund (IMF)? ...
The characteristic of entry and exit ensures that firms ...
In perfect competition, price is determined by the ...