WAEC Economics 2017 Objective — Question 13

Question 13 of 50 from the West African Examinations Council (WAEC) Economics 2017 Objective paper, with the correct answer and a full explanation.

Increase in the supply of a product can be caused by

A. A. change in tastes and fashion of consumers
B. B. increase in the incomes of consumers
C. C. a fall in the cost of productionCorrect
D. D. increase in the price of a product

Explanation

Increase in the supply of a product can be caused by many factors such as improvement in technology, decrease in cost of production. It should be noted that an increase in the price of a product can only cause increase in quantity supplied, not an increase in supply itself.

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