Identify the correct determinant of supply.Example:If the government requires factories to reduce pollution, complying will initially increase costs of production in the market and reduce supply.

SUPPLY

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Government regulation
B	Cost of resources
C	Worker productivity/motivation
D	Change in technology

Explanation:

Detailed explanation-1: -Some of the determinants of supply are technology, the number of suppliers, expectation of suppliers, feedback from consumers, increase in tax, high wage rate, etc. The change in prices of other products which a producer can produce may cause a change in supply for the product.

Detailed explanation-2: -Major determinants of supply include the price of the product or service, price of a related item, price of factors of production, technology intervention, administrative policy, and price speculations.

Detailed explanation-3: -The correct answer is C) Available technology If the industries can introduce new technology, then the market supply curve will right shift because there will be a lower cost of production.

Detailed explanation-4: -change in resource prices. change in technology. change in taxes and subsidies. change in the prices of other goods. change in expectations. change in the number of sellers.

There is 1 question to complete.

ECONOMICS (CBSE/UGC NET)

ECONOMICS

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