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Law of supply states that other factors remaining constant, supply is the function of its price where an increase in price of the commodity increases quantity supplied in the the market and a decrease in price reduces quantity supplied.
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Statement that parliment forced the king to sign declaring that even a monarch must obey the law of the land?
The statement refers to the signing of the Magna Carta in 1215, where King John of England was forced by the feudal barons and Archbishop of Canterbury to agree to a charter establishing that even the monarch is subject to the law. This document laid the foundation for limited government and the principle of rule of law in England.
How do you use the law of syllogism?
The law of syllogism is a logical rule that lets you draw a conclusion from two conditional statements. If the first statement leads to the second statement and the second statement leads to a third statement, you can infer that the first statement leads to the third statement. It's a way to combine multiple conditional statements to draw a single conclusion.
What is prejury?
"Perjury" is the act of lying or making false statements under oath, typically in a court of law. It is considered a serious offense and can result in legal consequences for the individual who commits it.
Is Statutory law the highest form of law?
In many legal systems, constitutional law is considered to be the highest form of law because it sets the framework for all other laws, including statutory law. Statutory law refers to laws passed by a legislative body, while constitutional law refers to the fundamental principles and rules outlined in the constitution.
What are the Laws of economics?
Laws of economics are general statements which expresses a relationship of cause and effect between two economic phenomenon. Examples of economic laws: (i) The law of demand states that the higher the price, the lower the damand and the lower the demand the higher the price holding all other factors constant. (ii) The law of supply states the the higher the price, the higher the supply and the lower the price the lower the supply holding all other factors constant.
What statement about fiscal policy is not true?
It refers to the adjustment of an economy’s money supply by a central bank.
Which of these statements refers to the law of supply?
producers will supply as the good price Producers will supply more of a product as the price goes up. A+
What does scientific law refers to?
is a statement that describes what scientists expect to happen every time under a particular set of conditions.
Law of demand and supply?
Consumers is the law of supply and demand.
What is meant by the statement anyone can lead refers to the ability to?
The statement "Anyone can lead refers to the ability to"
What is an outp ut statement in programming?
That refers to a statement that shows something to the user, in the simplest case, on the screen.That refers to a statement that shows something to the user, in the simplest case, on the screen.That refers to a statement that shows something to the user, in the simplest case, on the screen.That refers to a statement that shows something to the user, in the simplest case, on the screen.
Law of supply and demand Give an example of how it relates to the environment?
Demand refers to how much of a product or service is desired by buyers, and supply represents how much the market can offer. ChaCha 24/7!
The law supply and demand and give an example of how it relates to the environment?
Demand refers to how much of a product or service is desired by buyers, and supply represents how much the market can offer. ChaCha 24/7!
What According to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
When according to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
In science a statement about how things work in nature?
Scientific law
Where can one find information regarding the law of supply?
The law of supply is a fundamental principle of economic theory. One can find information about the law of supply on various websites like Wikipedia and Investopedia. These sites provide a lot of information regarding the law of supply.
