Most people that are common shoppers have encountered a situation where the product that they were seeking to buy was not available. It is very easy to see that certain products do have an ample supply due to many reasons. Other than the price of that product, there are six major non-determinate factors of supply. These factors are: Number of Sellers, Technology, Resource Prices, Taxes and Subsides, Expectations of Producers, and Price of other goods the Firm could Produce. With these factors and the demand of the product, the supply of a product can be determined, and a price can be set. The nu....

Number Of Words: 690

Number Of Pages: 3

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