ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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change in the price of inputs (resources)
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change in the number of suppliers
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change in technology
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change in the government regulations
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none-this is a change in demand
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Detailed explanation-1: -A change in supply is an economic term that describes when the suppliers of a given good or service alter production or output. A change in supply can occur as a result of new technologies, such as more efficient or less expensive production processes, or a change in the number of competitors in the market.
Detailed explanation-2: -Salary and fringes is the total amount of compensation that will be paid to an employee. This amount includes not only base pay, bonuses and commissions, but also all fringe benefits, such as medical insurance, life insurance, and pension payments.
Detailed explanation-3: -If there is an decrease in supply ( S) the supply curve moves to the LEFT. At the same prices, the quantities supplied will be smaller.