The law of supply refers to the content of price and quality of goods and services are equal, it is called parallel to each other.
What is supply?
The fundamental phenomenon affecting economic activity is referred to as supply. The quantity of goods and services that can be purchased determines the supply. The provision of products and services to meet consumer demands. The exchange of money for the provision of products and services.
The law of supply means all the elements and factors are equal, such as price and quality of goods and services are increased. The price of product increases are company create more product because demand are also increased of product. The law of supply is maintained the relation between price and quality.
Hence, the significance of the supply aforementioned.
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