The behaviour of firms to different market conditions is known as:

Question

Quizplus · Accepted Answer

Firms determine the level of supply of goods and services they produce based on market conditions such as price, competition, and availability of resources. Therefore, the behaviour of firms to different market conditions is known as supply. B) demand, C) incomes, and D) taxation are all factors that influence market conditions and can affect the behaviour of firms, but they are not the definition of the concept being asked for.

The Behaviour of Firms to Different Market Conditions Is Known