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Question
Non-economic factors like natural calamities, war, epidemics etc mostly influence the _____.
Non-economic factors like natural calamities, war, epidemics etc mostly influence the _____.
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Solution
The correct option is C supply
Supply is
a fundamental economic concept that describes the total amount of a
specific good or service that is available to consumers. Supply can relate to
the amount available at a specific price or the amount available across a range
of prices if displayed on a graph. This relates closely to the demand for a good
or service at a specific price; all else being equal, the supply provided by
producers will rise if the price rises because all firms look to maximize profits.
Supply is a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers. Supply can relate to the amount available at a specific price or the amount available across a range of prices if displayed on a graph. This relates closely to the demand for a good or service at a specific price; all else being equal, the supply provided by producers will rise if the price rises because all firms look to maximize profits.
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