The law of supply states that, other things being constant, …

JAMB Economics 2023 51 views

The law of supply states that, other things being constant, as price increases

  1. Supply increases
  2. Supply decreases
  3. Quantity supplied increases ✓
  4. Quantity supplied decreases

Explanation

This answer correctly explains the economic concept. Economics studies how people make choices about limited resources.

The other options describe different economic ideas or situations. They don’t fit what this question asks.

Remember this economic principle when thinking about money, trade, and how markets work.

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