Which of the following is NOT a factor determining supply?

Economics

NECO 2003

A. cost of production
B. climatic condition or weather
C. income of the producers
D. number of producers
E. technological development

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Correct Answer: Option C

Explanation

Supply will be determined by factors such as
- price,
- the number of suppliers,
- the state of technology,
- government subsidies,
- weather conditions and
- the availability of workers to produce the good.

The income of the producer doesn't affect supply.

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Which of the following is NOT a factor determining supply?

Correct Answer: Option C

Explanation

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