Mr. Khalid, has completed his engineering degree last year and he is planning to start a...

Mr. Khalid, has completed his engineering degree last year and he is planning to start a business. His idea is to produce and sell office furniture to clients. But, he has some concern regarding the supply of this product. As an economics student, explain him about the various factors that affect the supply of his product. In your explanation, include ten most important factors affecting supply.

[Answer in 300 – 400 words]

pls your own words and without copying from any sources. handwritten not accepted, only by computer

Solutions

Expert Solution

Answer : There are various factors which affect the supply of the product in the market place as follows :

Price of the computer product itself has been influenced a lot in the market place.As when price is higher than the supply of the product in the market place has been decreased and vica- versa. Speculation of price of the product in the future also affect the supply of the computer product in today scenario.
Cost of production : As it shows when the production cost has been increased which resulted deceased in supply.There is an inverse relationship exist between. Them.
Natural condition : Some of the natural condition has been affected the supply of certain product in a systematic and logical manner.
Technology: An innovative and advanced technology in the market resulted in higher production of goods and services in the market place or area.
Transport conditions : A better and innovative transport condition helps in an increase in the supply of the computer in the market place has been increased tremendously.
Factorprice and there availability in the market place: It means that when factors are available in the market tremoundsly than the supply has been increased at grater phase.
Government policies :Different fiscal and excise duty has been impact the supply of the product in the market place.A larger tax imposed decreased the supply of the product in the market place ore area.
Price of related goods : The price of substitute and complementary good has been affected demand and supply of the product in the market place.

Rahul Sunny answered 1 year ago

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