Question

The non-price determinants of supply include which of the following?

Technology, prices of related goods, and number of sellers.

Production costs, input prices, government policies, and buyer's expectations of future price changes.

Technology, prices of related goods, and number of buyers.

Consumer income.

Answer 1

The non-price determinants of supply include:

- Technology
- Prices of related goods
- Number of sellers
- Production costs
- Input prices
- Government policies

Based on the options you provided, the statement that best captures non-price determinants of supply is:

**Production costs, input prices, government policies, and buyer's expectations of future price changes.**

However, note that *buyer's expectations of future price changes* is typically a determinant of demand rather than supply.

Thus, the option that primarily focuses on elements related to supply would be the one that includes **Technology, prices of related goods, and number of sellers**.

So, I recommend choosing the first set: "Technology, prices of related goods, and number of sellers," as they are directly linked to supply determinants.