INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
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Refers to the quantities that will be sold at a certain price.
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Law of supply
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Law of demand
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Law of price
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None of the above
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Explanation:
Detailed explanation-1: -What Is the Law of Supply? The law of supply is the microeconomic law that states that, all other factors being equal, as the price of a good or service increases, the quantity of goods or services that suppliers offer will increase, and vice versa.
Detailed explanation-2: -The quantity supplied is the amount of a good or service that is made available for sale at a given price point.
Detailed explanation-3: -A market-clearing price is the price of a good or service at which quantity supplied is equal to quantity demanded, also called the equilibrium price.
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