How does The Law of Supply differ from The Law of Demand?

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Social Studies

Brady Gaines

2 May, 01:07

How does The Law of Supply differ from The Law of Demand?

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Reginald Raymond · Answer 1

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Explanation:

"The relationship between the law of supply and demand is as demand increases the price goes up, which attracts new suppliers who increase the supply bringing the price back to normal ... Supply refers to the amount of goods a market can produce, while demand refers to the amount of goods consumers are willing to buy."