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 technology
- B. cost of production
- C. the price of the commodity
- D. government tax policies
Correct Answer: C. the price of the commodity
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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