Question

Supply is indirectly related to price. (State whether the statement is TRUE or FALSE)

Answer 1

Hey there...

The given statement is TRUE.

more the price, less is the supply.

Hope this helps you friend ☺☺☺

Answer 2

Yes, It's true that Supply is indirectly related to price.

When the supply of goods is less, their demand is high, hence the Price of goods is high.

When the supply of goods is high, their demand is less, which accounts for low prices.

So When A Good has a great demand, it's price will be high. Demand and Supply are inversely related.

Hence, It's also true that Supply is indirectly related to price.