Determinant of supply

Definition

Factors other than price that influence the willingness and ability of producers to offer goods and services for sale.

Related terms

Technology: Advances in technology can increase productivity and efficiency, leading to higher levels of production.

Costs of inputs: Expenses incurred by businesses when purchasing resources such as labor, raw materials, or machinery.

Government regulations: Laws imposed by governments that affect production processes or costs, such as safety standards or environmental regulations.