There Will Be an Increase in Supply When

question 305

Multiple Choice

There will be an increase in supply when

• A) a consumer's income increases.
• B) there is an improvement in technology.
• C) the demand curve shifts.
• D) the market price rises from $3 to $4.

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Definitions:

Government Policies

Measures and regulations implemented by a government to influence economic, social, or administrative outcomes in the country.

Government Intervention

Actions taken by a government to influence or directly control economic activities, often to correct market failures or promote economic stability.

Promote Efficiency

To enhance the effectiveness and productivity with which resources are used, minimizing waste and maximizing output.

Foreign Competition

Competition that domestic companies face from abroad, from foreign companies offering the same or similar products or services.