Which of the following factors is not considered a determinant of supply?

Study for the IGCSE Economics Test. Dive into multiple choice questions and informative flashcards, each with hints and clear explanations. Boost your exam readiness!

The correct answer is that consumer preferences are not considered a determinant of supply. Supply determinants refer to the factors that influence a producer's willingness and ability to offer goods for sale. These include the costs of production, technological advancements, and external factors such as weather conditions, which can significantly affect agricultural outputs.

Consumer preferences, on the other hand, relate to the demand side of the market. They influence how much of a good or service consumers want to purchase but do not affect the quantity that producers are willing and able to supply. Therefore, while understanding consumer preferences is important for gauging demand and setting pricing strategies, it does not directly impact the supply side of the market model.

In contrast, weather can impact agricultural supply directly by affecting crop yields; technical progress can lead to more efficient production methods, thereby increasing supply; and changes in the costs of factors of production, like labor or materials, can directly alter a producer's capacity to supply goods.

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