Author Topic: What is law of Supply?  (Read 69 times)

Offline Md. Alamgir Hossan

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What is law of Supply?
« on: April 03, 2017, 05:08:07 PM »
In a specific period, when other things constant, If the price of any goods and service is increased the supply of that goods/service will be increased. On the other hand, If the price of any goods and service is decreased the supply of that goods/service will be also decreased, that types of positive relationship between quantity supply and price is said to be a supply law.
Symbolically, 
P↑S↑   
P↓S↓