Which of the following is NOT a factor determining supply?
- cost of production
- climatic condition or weather
-
income of the producers
- number of producers
- technological development
The correct answer is: C
Explanation
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.
The income of the producer doesn't affect supply.