Write down any three elements which affect the supply of a commodity.

1.	Write down any three elements which affect the supply of a commodity.
Answer» Following are the three elements which affect the supply of a commodity: (a) Supply changes when the cost of production changes. When cost increases, supply decreases, and when cost decreases, then supply increases. (b) Supply is affected by new inventions. When the use of new replacement goods increases then the supply of old goods decreases. (c) Technological changes affect supply of a product through changes in production level.

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