Question1.18 What is a determinant that causes a change in supply? Select one alternative: The number of consumers Production costs Household income The price of related goods ResetMaximum marks: 1 Flag question undefined

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BlackTom AI · Accepted Answer

Start by identifying what drives a shift in the supply curve versus demand. 
Option 1: The number of consumers. This primarily affects demand, not supply, since more consumers increase quantity demanded at each price, shifting the demand curve rather than the supply curve. 
Option 2: Production costs. This directly affects producers' marginal cost of supplying goods. Higher production costs make production less profitable at any given price, causing the supply curve to shift left; lower costs shift it right. This is a classic determinant of supply, tied to how much firms are willing and able to produce at each price. 
Option 3: Household income. Like the number of consumers, this mainly influences demand (income effects on demand for goods and services) and thus shifts the demand curve, not directly the supply curve. 
Option 4: The price of related goods. This can influence supply in some contexts (e.g., if producers can switch resources to a more profitable related good, or if goods are joint products), but in standard supply analysis the primary determinants are costs, technology, expectations, taxes/subsidies, and the number of sellers. The phrasing here points to production costs as the more direct and universally recognized determinant. 
Overall, among the given options, production costs best fit as a determinant that causes a change in supply, whereas the others mainly affect demand or are more context-dependent rather than fundamental supply determinants.

Question1.18 What is a determinant that causes a change in supply? Select one alternative: The number of consumers Production costs Household income The price of related goods ResetMaximum marks: 1 Flag question undefined

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