Economics GCSE
Law of supply
What Law of supply means in Economics GCSE, as defined for AQA.
Definitions of Law of supply
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Reference: AQA
As price increases, the quantity supplied increases, ceteris paribus, giving a positive relationship.
As price increases, quantity supplied increases, assuming ceteris paribus.
Topics that use Law of supply
- Supply for goods and services (AQA GCSE)
Related terms
- Change in supply
- Costs of production
- External shocks
- Goods and services
- Government intervention
- Indirect taxes
- Market forces
- Movement along the curve
Using Law of supply in the exam
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