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JAMB Economics 2015 Paper
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© africaexams.com
Question : 4
Total: 70
All the following are factors that would bring about a change in supply except
level of technology
government policy
Entry of new firms
Price of the commodity
Validate
Solution:
Factors Affecting the Supply of a Commodity
i. Price of the given Commodity
ii. Cost of Production:
iii. Natural Conditions
iv. State of Technology
v. Transport Conditions
vi. Factor Prices and their Availability
vii. Government's Policies
viii. Prices of Related Goods
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