Question

In microeconomics, price helps determine both quantity supplied and quantity demanded. Which other factors can impact each by causing a shift to occur?

Answer 1

The answer choice “A” is the correct option.

Answer 2

The correct answer is A. Quantity supplied is determined by production costs, and quantity demanded is determined by a desire for the product.  

Demand as the amount of any product a consumer wants to buy at any price. So beyond Price, when someone wants to buy it is supposed he has a desire o necessity. So income is an important consideration.  

Quantity supplied is considered to be the limit in the quantity that sellers will offer for sale at a given price. The supply price influence on quantity supplied. Supply is greater if the price is higher, but less if the supply price is lower.