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Let us make an in-depth study of the Law of Supply :- 1. Introduction to the Law of Supply 2. Explanation of the Law 3. Assumption 4. Exception. Introduction to the Law of Supply : The law of supply reflects the general tendency of the sellers in offering their stock of a commodity for sale in relation to the varying prices. It describes seller's supply behaviour under given conditions. It has been observed that usually sellers are willing to supply more with a rise in prices. The law of ... The law of supply stands as one of the fundamental principles in economic theory, forming half of the famous supply and demand framework that explains how markets function. This article explores the law of supply in depth, examining its theoretical foundations, practical applications, limitations, and the unique economic lessons it provides for understanding market In short, the law of supply is a positive relationship between quantity supplied and price, and is the reason for the upward slope of the supply curve. Learn what is the law of supply and how it relates to the price and quantity of goods or services. See examples of supply schedule, supply curve and different types of supply curves with diagrams.
