One of the major factors that brings about changes in supply is
ECONOMICS
JAMB 2013
One of the major factors that brings about changes in supply is
- A. market discrimination
- B. availability of storage facilities
- C. the cost of storage
- D. incentives granted to workers
Correct Answer: C. the cost of storage
Explanation
The available of facilities to store produced goods would affect the quantity of goods supplied to the market. Producers maybe willing to produce, but if there are no storage facilities to store the manufactured goods pending when the demand for it will arise, producers would cut down on production thereby affecting the quantity of goods supplied.
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