what are the reason behind the law of supply
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As a result of their observations, they have arrived at the law of supply. Law of supply states the direct relationship between price and quantity supplied, keeping other factors constant (ceteris paribus). ... As price of the commodity increases, there is more supply of that commodity in the market and vice-versa.
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SUPPLY :-
Supply is the quantity of certain goods or services which are provided by the desired suppliers to the market.
THE LAW OF SUPPLY :-
This is a direct relationship between the prices of goods and it's supply . If the price of the goods rise then their supply will also rise . In other words , The higher the price , The higher the quantity supplied.
Reasons :-
The main goal of suppliers is to gain more profit. When price increases, without any cost, it raises their profits. So, producers increase the supply of the goods by increasing the production.
When the price of a commodity increases, the sellers supply more goods from their stocks.
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