Question

Economics
Practice Sheet
2. What is meant by the supply of
commodity ? Explain any four
factors that determine supply
of a commodity.

Answer 1

Explanation:

Some of the factors that affect the supply of the commodity are: ... The supply of a product not only depends on its price but also price of other goods- The increase in price of the other good is more profiable the producer will shift production and increase the supply of that good.