WAEC Economics 2021 Objective — Question 13
Question 13 of 50 from the West African Examinations Council (WAEC) Economics 2021 Objective paper, with the correct answer and a full explanation.
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13. Market supply may increase if there is an increase in the
- A. price of the product.
- B. prices of factors of production.
- C. tax paid on raw materials.
- D. subsidies on raw materials.Correct
Explanation
Subsidies on raw materials lower production costs, giving producers more funds to increase input and output — increasing supply.
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