Q:

What is the principal of law of supply

Answer

It is an economic law stating that as the price of a good or service increases the quantity of goods or services offered increases

Categorized In: Finance & Economy

Source: Law Of Supply | www.investopedia.com

Description: A microeconomic law stating that, all other factors being equal, as the price of a good or service increases, the quantity of goods or services offered by suppliers increases and vice versa.

Nov 05, 08:06am

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