Hot Student Stories

The law of supply states that as the price of a good rises, the quantity supplied of that good disappears. decreases. remains the same. increases.

Eric Morgan

in Business

1 answer

1 answer

Theresa Perry on February 2, 2019

IncreasesAs the price of a good increases, the quantity increases. On the contrary, as the price of a good decreases, the quantity of that good decreases. There is a direct correlation between the price of the goods and the quantity of the goods. This is also known as ceteris paribus. This is a Latin phrase that is used to characterize the Law of Supply that means "all other things being equal."

Add you answer