Law Of Supply
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.
Investopedia Says:
As the price of a good increases, suppliers will attempt to maximize profits by increasing the quantity of the product sold. Related Terms:
Change In Supply
Economies Of Scale
Equilibrium
Law Of Demand
Macroeconomics
Microeconomics
Supply-Side Theory |