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Which of the following is most closely associated with SUPPLY?
A)A consumer goes to the store to purchase her groceries.
B)A bolt.company updates an old piece of machinery with a newer model.
C)A magazine publication company gives a raise to their workers
D)The price of lumber has decreased causing more lumber to be purchased than before.

Sagot :

snakekittygirl13
I would say d because that’s a product which is also a supply
adioabiola

We are required to find which of the options is closely related to supply.

The option which is closely related to supply is "The price of lumber has decreased causing more lumber to be purchased than before".

Supply is defined as the amount of goods or services a producer is willing to sell at a particular price over a period of time.

Some of the factors that affect supply are:

  • Price of other goods

  • Substitute goods

  • Taste of the consumer

  • Weather and climate

Demand on the other hand is the amount of goods or services a consumer is willing to buy at a price over a period of time.

Therefore,

The option which is closely related to supply is "The price of lumber has decreased causing more lumber to be purchased than before".

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