Definition of Law of Supply

Definition of Law of Supply:

There is a direct relationship between the price of a commodity and its quality offered for sale over a specified period of time. When the price of a goods rises, other things remaining the same, its quantity which is offered for sale increases and as price falls, the amount available for sale decreases. This relationship between price and quantities which suppliers are prepared to offer sale is called the law of supply. It is therefore, important here to mention that the relationship between price and the quantities which suppliers are prepared to offer for sale is positive.