The forces that determine the cost of production are largely independent of the forces that shape demand.

Question

Quizplus · Accepted Answer

The cost of production is determined by factors such as material prices, wages, and other expenses involved in the production process. On the other hand, demand is influenced by factors such as consumer preferences, advertising, and market trends. These two sets of forces are independent of one another, and fluctuations in one do not necessarily affect the other.

The Forces That Determine the Cost of Production Are Largely