Which one of these is not a factor that affect change in supply of agricultural ...
Question
Which one of these is not a factor that affect change in supply of agricultural produce?
Options
A)
Technology
B)
Changes in the cost of production
C)
Changes in prices of commodity
D)
Fixed cost
The correct answer is D.
Explanation:
Supply refers to the quantity of a good that the producer plans to sell in the market. Supply will be determined by factors such as price, the number of suppliers, the state of technology, government subsidies, weather conditions and the availability of workers to produce the good. Fixed cost does not affect the supply of agricultural produce.
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Supply refers to the quantity of a good that the producer plans to sell in the market. Supply will be determined by factors such as price, the number of suppliers, the state of technology, government subsidies, weather conditions and the availability of workers to produce the good. Fixed cost does not affect the supply of agricultural produce.