What are the five non price determinants of supply?



changes in non-price factors that will cause an entire supply curve to shift (increasing or decreasing market supply); these include 1) the number of sellers in a market, 2) the level of technology used in a good’s production, 3) the prices of inputs used to produce a good, 4) the amount of government regulation, …

What are the 5 supply determinants?

Major determinants of supply include the price of the product or service, price of a related item, price of factors of production, technology intervention, administrative policy, and price speculations.

What are the 5 non-price determinants of demand give an example of each one?

Demand Non-Price-Determinants

  • The needs of the consumer. …
  • Consumer income (Y) …
  • Consumer tastes, preferences and fashions. …
  • Habit. …
  • Brand loyalty. …
  • The price of substitute products. …
  • The price of complementary products. …
  • Natural factors.

What are the 6 non-price determinants?





Future price expectations. Price of substitute goods. Price of complementary goods. Changes in tastes and preferences.

What are three non-price determinants of supply?

Terms in this set (6)

  • costs of inputs.
  • technology.
  • number of producers in the market.
  • prices of related goods.
  • government policies.
  • expectations.


What are non-price determinants?

What are Non-Price Determinants of Demand? Non-price determinants of demand refer to factors other than the current price that can potentially influence the need for a service or product, resulting in a shift in its demand curve.

What are the 5 determinants of supply and demand?





5 key determinants of demand for products and services

  • Income. When an individual’s income rises, they can buy more expensive products or purchase the products they usually buy in a greater volume. …
  • Price. …
  • Expectations, tastes, and preferences. …
  • Customer base. …
  • Economic conditions.


What are the 5 determinants of price elasticity of demand?

Determinants of price elasticity of demand are:

  • Availability of substitute.
  • Nature of commodity.
  • Proportion of income spent.
  • The number of uses of a commodity.
  • Time factor.
  • Price range.
  • Habits of consumers.


What are the 7 determinants of demand?

What are the Seven Determinants of Demand?



  • Income.
  • Prices.
  • Prices of Related Goods.
  • Expectations of Future Prices.
  • Tastes and Preferences.
  • Number of Consumers.
  • Propensity to Consume.


What are the 5 shifters of supply?

A variable that can change the quantity of a good or service supplied at each price is called a supply shifter. Supply shifters include (1) prices of factors of production, (2) returns from alternative activities, (3) technology, (4) seller expectations, (5) natural events, and (6) the number of sellers.

What are the 7 factors that affect supply?

The seven factors which affect the changes of supply are as follows: (i) Natural Conditions (ii) Technical Progress (iii) Change in Factor Prices (iv) Transport Improvements (v) Calamities (vi) Monopolies (vii) Fiscal Policy.

What are the 6 factors that affect supply?

6 Factors Affecting the Supply of a Commodity (Individual Supply) | Economics

  • Price of the given Commodity:
  • Prices of Other Goods:
  • Prices of Factors of Production (inputs):
  • State of Technology:
  • Government Policy (Taxation Policy):
  • Goals / Objectives of the firm:




What are the determinants of supply explain?

Factors that influence the supply of goods and services are termed determinant of supply. Some of the determinants of supply are technology, the number of suppliers, expectation of suppliers, feedback from consumers, increase in tax, high wage rate, etc.

What are non-price determinants quizlet?

A good or service whose consumption increases (shift of curve to the right) when income increases and falls when income decreases (shift of curve to the left), price remaining constant.

What are the major non-price factors that affect changes in supply?

changes in non-price factors that will cause an entire supply curve to shift (increasing or decreasing market supply); these include 1) the number of sellers in a market, 2) the level of technology used in a good’s production, 3) the prices of inputs used to produce a good, 4) the amount of government regulation,

What is not determinants of supply?

Non price determinants of supply

What are the 8 determinants of supply?

Determinants of Supply:



  • i. Price:
  • ii. Cost of Production:
  • iii. Natural Conditions:
  • iv. Technology:
  • v. Transport Conditions:
  • vi. Factor Prices and their Availability:
  • vii. Government’s Policies:
  • viii. Prices of Related Goods:


What are the determination of supply?

The most obvious one of the determinants of supply is the price of the product/service. With all other parameters being equal, the supply of a product increases if its relative price is higher. The reason is simple. A firm provides goods or services to earn profits and if the prices rise, the profit rises too.

What are the 7 factors that affect supply?

The seven factors which affect the changes of supply are as follows: (i) Natural Conditions (ii) Technical Progress (iii) Change in Factor Prices (iv) Transport Improvements (v) Calamities (vi) Monopolies (vii) Fiscal Policy.

What are the 6 factors that affect supply?

6 Factors Affecting the Supply of a Commodity (Individual Supply) | Economics

  • Price of the given Commodity:
  • Prices of Other Goods:
  • Prices of Factors of Production (inputs):
  • State of Technology:
  • Government Policy (Taxation Policy):
  • Goals / Objectives of the firm:


What are the 10 determinants of supply?

Determinants of Supply



  • Price of a product.
  • Cost of production.
  • Natural conditions.
  • Transportation conditions.
  • Taxation policies.
  • Production techniques.
  • Factor prices and their availability.
  • Price of related goods.

What are the types of supply?

There are five types of supply—market supply, short-term supply, long-term supply, joint supply, and composite supply.