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Which of the following is not a determinant of supply?
- a)Price of good concerned
- b)Price of related goods
- c)Technology improvements
- d)Customs & traditions
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Which of the following is not a determinant of supply?a)Price of good ...
Here it is, option A does affect the supply as with increase in price of a good decreases its supply and vice versa.
option B also affects the supply, I.e., if the price of the cars increases then people will stop/decrease the purchase of car then it will stop/decrease the purchase of diesel as well.
Option C, it also affects supply as improve in technology will lead to more manufacturing of a certain good n vice versa increasing or decreasing the supply to the market.
Option 'D' doesn't affect the supply I.e., rice, if taken as example regardless of custom and tradition will purchase as to sustain n live.
option B also affects the supply, I.e., if the price of the cars increases then people will stop/decrease the purchase of car then it will stop/decrease the purchase of diesel as well.
Option C, it also affects supply as improve in technology will lead to more manufacturing of a certain good n vice versa increasing or decreasing the supply to the market.
Option 'D' doesn't affect the supply I.e., rice, if taken as example regardless of custom and tradition will purchase as to sustain n live.
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Which of the following is not a determinant of supply?a)Price of good ...
D)Customs
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Which of the following is not a determinant of supply?a)Price of good concernedb)Price of related goodsc)Technology improvementsd)Customs & traditionsCorrect answer is option 'D'. Can you explain this answer?
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