INTRODUCTION TO ECONOMICS I (İKTİSADA GİRİŞ I) - (İNGİLİZCE) Dersi How Markets Work? Market Forces and Equilibrium soru detayı:

PAYLAŞ:

SORU:

Briefly mention about the law of supply.


CEVAP:

The law of supply refers the fact that there exist a positive relationship between the price and the quantity supplied of a particular good. It indicates that when the price of a good goes up, the sellers’ quantity supplied also goes up, and vice-versa.