Question

Which factor might cause an increase in the supply of a product? A) a decrease in productivity B) fewer sellers in the marketplace C) the introduction of new technology D) an increase in the cost of raw materials

Answer 1

Fewer seller in the marketplace

Answer 2

The introduction of new technology cause an increase in the supply of a product.

Answer: Option(C)

Explanation:

• Automating and introduction of new technology helps development and boosts the supply of products in most companies, reduces delivery, shipping or transit times and responds to demand extra hours more effectively.
• Workers involved in the field of production will operate together with newer tech and networked computers.
• The use of technology improves accuracy, decreases waste and overall helps the process of supplying goods and products become far easier as it leaves the human resources with more intricate jobs and takes up all the menial work.

Learn more about Causes of increase in supply.

Explain any two causes of increase in supply.

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