Podcast
Questions and Answers
Which primary factor is considered a core determinant of supply?
Which primary factor is considered a core determinant of supply?
- Product price (correct)
- Future market expectations
- Production costs
- Number of sellers
Which factor influences supply through external conditions like weather?
Which factor influences supply through external conditions like weather?
- Objectives of the firm
- Future expectations
- Weather conditions and other short-term factors (correct)
- Costs and technology
How can the number of sellers in a market impact supply?
How can the number of sellers in a market impact supply?
- It affects competition and availability of products. (correct)
- It determines future expectations.
- It influences taxation policies.
- It increases production costs.
Which related factor can influence the supply of one product based on another's supply?
Which related factor can influence the supply of one product based on another's supply?
What effect does taxation policy have on supply?
What effect does taxation policy have on supply?
Flashcards
Core determinant of supply
Core determinant of supply
The main factor influencing how much of a product is offered for sale.
External supply factors
External supply factors
Conditions outside of the business that impact how much is supplied.
Number of sellers' impact
Number of sellers' impact
More sellers usually mean more supply, but also increased competition.
Related product prices effect
Related product prices effect
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Taxation policy's effect
Taxation policy's effect
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