Economics Supply Factors Quiz
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Questions and Answers

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?

  • 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?

  • 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?

    <p>Prices of related products</p> Signup and view all the answers

    What effect does taxation policy have on supply?

    <p>It can affect production costs and decisions.</p> Signup and view all the answers

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