What is law of supply? - letsdiskuss
Official Letsdiskuss Logo
Official Letsdiskuss Logo

Language


Vanisha Anand

Student | Posted on | Education


What is law of supply?


0
0




student | Posted on


A microeconomics law which states that the relationship between the price of a product or service is equally proportional to the quantity of the same product or service which is supplied by the suppliers and dealers in the market. In simpler language, law of supply means, if the price os product or service increases the quantity the product or service being supplied in the market will also increase and vice versa. 

Letsdiskuss


0
0

Picture of the author