Lesson Progress
0% Complete
Topic Content:
- Factors Affecting Supply of Commodity
Below are Factors that affect the supply of commodities:
1. Change in Cost of Production:
If the cost of producing goods increases, the supply of the commodity will fall and vice versa.
2. Price of the Goods:
The lower the price of goods the lower the quantity supplied, the higher the price of the commodity the higher the quantity supplied, for normal goods.
You are viewing an excerpt of this Topic. Subscribe Now to get Full Access to ALL this Subject's Topics and Quizzes for this Term!
Click on the button "Subscribe Now" below for Full Access!
Subscribe Now
Note: If you have Already Subscribed and you are seeing this message, it means you are logged out. Please Log In using the Login Button Below to Carry on Studying!
Responses