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Which determinant of supply relates to the availability and price of inputs such as raw materials and labor?
  • a)
    Government's policies
  • b)
    Natural conditions
  • c)
    Factor prices and their availability
  • d)
    Prices of related goods
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Which determinant of supply relates to the availability and price of i...
The determinant of supply that relates to the availability and price of inputs such as raw materials and labor is "Factor prices and their availability." When factors like raw materials and labor are readily available at lower prices, it becomes more economical for producers to increase their production, leading to an increase in supply.
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Which determinant of supply relates to the availability and price of inputs such as raw materials and labor?a)Government's policiesb)Natural conditionsc)Factor prices and their availabilityd)Prices of related goodsCorrect answer is option 'C'. Can you explain this answer?
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