Law Of Supply

Learn the law of supply definition and explore factors that affect the supply. Compare and contrast the law of demand. See real world law of supply and demand examples.

Learn about the supply and demand graph. Understand how the law of supply and demand works, see supply and demand graphs and identify the equilibrium price. Learn the definition of "supply" in economics.

Know what supply is, the concepts of supply, factors affecting supply, and changes in supply with examples. Test your knowledge of the law of supply with the following interactive quiz and printable worksheet. Supply and demand are key factors that affect the economy.

Learn the definitions of supply and demand, how they are related to one another, and. Learn about the law of diminishing returns, or diminishing marginal returns. What is the law of demand?

The law of supply tells us that other things remaining the same, as the a) price of gasoline falls, the quantity of gasoline supplied decreases. The law of supply the law of supply guides the choice of sellers to produce and sell a certain quantity of a good or service as a result of changes in its price. The law of supply asserts that when price increases the quantity supplied increases and vice-versa.

It shows that there is a direct relationship between price and quantity supplied.