There are a lot of laws. The Law of Supply states that as prices rise, the quantity supplied increases and as prices fall, the quantity supplied decreases.
The law of supply is known to be a popular microeconomic law that states that, when all other factors are equal, the price of a good or service goes up, the quantity of goods or services that suppliers gives will also goes up, and vice versa.
The Law of Supply in simple terms is as prices rise, the quantity supplied goes up and as prices fall, the quantity supplied lowers. The law of supply makes sure that producers make a lot of money as much as possible.
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