All the following are factors that would bring about a change in supply except
ECONOMICS
JAMB 2015
All the following are factors that would bring about a change in supply except
- A. level of technology
- B. government policy
- C. Entry of new firms
- D. Price of the commodity
Correct Answer: C. Entry of new firms
Explanation
Factors Affecting the Supply of a Commodity i. Price of the given Commodity ii. Cost of Production: iii. Natural Conditions iv. State of Technology v. Transport Conditions vi. Factor Prices and their Availability vii. Government's Policies viii. Prices of Related Goods
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