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Which of the following factors is not a condition for a change in the supply...

Economics
WAEC 2019

Which of the following factors is not a condition for a change in the supply of a commodity

  • A. improved technoly
  • B. cost of production
  • C. the price of the commodity
  • D. government tax policies
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Correct Answer: Option C
Explanation

Some of the factors that may cause a change in supply include; changes in the costs of production, improvements in technology, taxes, subsidies, weather conditions, health of livestock, and also by the price of other products. 

The price of the commodity itself does not affect the change in supply, but rather it affects the change in the quantity supplied.


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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free