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discuss the various determination of supply


beighidrees 22nd Jun, 2019
Answer (1)
Sania Shahidi 9th Jul, 2019

Hello!

Various determinants of supply are:-

  • Price of goods- supply increases when price increases
  • Price of related goods- increase price and supply of one good leads to lower supply of other goods
  • Price of a factor of production-rise in the factor of production cause increased the price of goos
  • State of technology- advanced technology increases the price of goods
  • Government policy- taxes vary the price and supply of goods
  • Other factors- foreign policies, industry firm etc.

Hope this helps!

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