A change in the supply of a particular product is caused by either an increase or decrease in the price of the product.

Question

Quizplus · Accepted Answer

A change in the supply of a product is primarily influenced by factors other than its price, such as production costs, technology, and the prices of related goods, rather than by changes in the product's own price. Changes in the product's own price affect the quantity supplied, not the supply curve itself.

A Change in the Supply of a Particular Product Is