The law of supply is an economic concept stating that the price and supply of a good or service are directly elastic to each other. When the price of a good or service increases, t...
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....
The law of supply is a fundamental principle of economic theory which states that,
all else equal, an increase in price results in an increase in quantity supplied.
DEFINITION of 'Law Of Supply'. A microeconomic law that states, all other factors
being equal, as the price of a good or service increases, the quantity of goods ...
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Introduction to the Law of Supply. ... I'll do it in purple in honor of the grapes); to
the law of supply which, like the law of demand,; makes a lot of intuitive sense ...
Definition: Law of supply states that other factors remaining constant, price and
quantity supplied of a good are directly related to each other. In other words ...
Definition of law of supply: An economic theory which states that a company
faced with constant demand will be able to raise prices inversely to shrinking ...
The most basic laws in economics are the law of supply and the law of demand.
Indeed, almost every economic event or phenomenon is the product of the ...
Learn more about the law of supply in the Boundless open textbook.