Definition of Law of supply
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Law of supply Definition from Business & Finance Dictionaries & Glossaries
Raynet Business & Marketing Glossary
if demand is held constant, an increase in supply leads to a decreased price, while a decrease in supply leads to an increased price.
if demand is held constant, an increase in supply leads to a decreased price, while a decrease in supply leads to an increased price.Copyright © 2001, Ray Wright
A Guide to Futures and Options Market Terminology : English-English
Law of supply Definition from Social Science Dictionaries & Glossaries
Environmental Economics Glossary
At higher relative prices, the quantity supplied of a good will increase; at lower relative prices, smaller quantities will be supplied.
A Glossary of Political Economy Terms
Law of supply Definition from Encyclopedia Dictionaries & Glossaries
English Wikipedia - The Free Encyclopedia
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. In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes. This means that producers are willing to offer more products for sale on the market at higher prices by increasing production as a way of increasing profits.
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