Question

Explain the factors which affect individual supply of a commodity.

Answer 1

Answer:

Below are some of the factors that affect the indivitual supply of a commodity.

Explanation:

• Price: this affects the supply of an indivitual commodity either positively or negatively.
• Cost of production of the commodity: the higher the cost of production of a commodity, the higher the price, the higher the demand, the lower the supply and vice versa.