The person is credited with introducing the concept of supply and demand is Adam Smith. Smith, often referred to as the father of economics, explained the concept of supply and demand as an "invisible hand" that naturally guides the economy. Smith described a society where bakers and butchers provide products that individuals need and want, providing a supply that meets demand and developing an economy that benefits everyone.<span>
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Answer:
B. the passage of time.
Explanation:
Price elasticity of supply measures how sensitive quantity supplied are to changes in price.
Price elasticity of supply is determined by the passage of time.
Typically, in the short run, the elasticity of supply is usually inelastic. Prices do not usually impact quantity supplied because in the short run, some of the factors of production are fixed. But in the long run, the price elasticity of supply are more elastic.
The other factors listed above in the options affect the price elasticity of demand.
If you give a plant to much water it could cause rotting to the roots and it won’t be able to get the oxygen it needs. The plant will not be able to grow without its healthy roots Causing the plant to stunt its growth.
A) sometimes your perception of the problem shifts as you seek to solve it