What are determinants of supply?

Can someone please explain me determinants of supply in an economy? I want to know its concept in detail.

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    Basically, there are 5 determinants of supply which includes:

    • Price: As law of demand suggests, increase in price increase supply and decrease in price decrease supply.
    • Input prices or the cost of factors of production: Increase in input prices (or cost of production) reduces supply as it becomes expensive to produce goods.
    • Technology: Better technology helps to produce larger quantity of goods which increases the supply.
    • Expectation
    • Number of sellers: More the number of sellers in economy or market, more the supply.
    Novice Answered on February 4, 2019.
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