October 12, 2025

Supply and Law of Supply

The law of supply states the functional relationship between the price of a commodity and its quantity supplied.
According to the law:
When the price of a commodity increases, the quantity supplied of that commodity also increases;
and when the price falls, the quantity supplied decreases—other factors remaining constant. Thus, according to the law of supply, quantity supplied is directly or positively related to price.

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Definition of industrial relation, objective of industrial relation, importance of industrial relation, role of different parties or industrial relation in good IR.

Question 1. Define industrial relation, objective of industrial relation, importance of industrial relation, role of different parties or industrial relation in good IR. Definitions In …

Definition of industrial relation, objective of industrial relation, importance of industrial relation, role of different parties or industrial relation in good IR. Read More

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