ECONOMICS (CBSE/UGC NET)

ECONOMICS

SUPPLY

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

The school administration makes it an offense for students to sell Poptarts to other students. What determinant of supply is this?

A	Technology
B	Gov’t Regulation
C	Expectations of Producers
D	Number of Producers
E	Education

Explanation:

Detailed explanation-1: -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-2: -3 Determinants of Supply. 3.1 Price of the Good/ Service. 3.2 Price of Related Goods. 3.3 Price of the Factors of Production. 3.4 State of Technology.

Detailed explanation-3: -Price. The number of sellers in the market. The price of resources used to produce the product. Tax rates and subsidies. Improvements in technology and automation. Expectations of the suppliers. The price of related products. The price of joint products made in the same process.

Detailed explanation-4: -Price of the Commodity. Firm Goals. Price of Inputs or Factors. Technology. Government Policy. Expectations. Prices of other Commodities. Number of Firms. More items

There is 1 question to complete.