BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Advertising
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Sales skills
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Inelastic demand
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Government regulations
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Detailed explanation-1: -The supply a good decreases if the price of one of its complements in production falls. Resource and input prices influence the cost of production. And the more it costs to produce a good, the smaller is the quantity supplied of that good.
Detailed explanation-2: -Which of the following factors will lead to a decrease in supply? An expectation of higher prices in the future.
Detailed explanation-3: -If the cost of production rises, corporations will reduce their product supply in order to save money. For example, the cost of manufacturing has increased owing to high labour wages, adverse natural circumstances such as crop failure, as well as increases in raw material prices, taxes, transportation costs, and so on.
Detailed explanation-4: -Increased government regulation can cause the aggregate supply curve to shift to the left.