Economic Glossary | Law of Supply | Bankers Algo
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Economic Glossary

    Law of Supply

The direct relationship between supply price and the quantity supplied, ceteris paribus. This fundamental economic principle indicates that as the price of a commodity increases, then the quantity of the commodity that sellers are able and willing to sell in a given period of time, if other factors are held constant, also increases. This law, while not quite as iron-clad as the law of demand, is quite important to the study of markets


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Banker's Algo Daily Dose

Word of the day

Famish(v)

Meaning:

Reduce someone to extreme hunger

Synonyms: abstain, deny oneself, diet, fast

Antonyms: eat, glut, gorge, stuff

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Question

What is the sum of positive integers less than 100 which leave a reminder 1 when divided by 3 and leave a remainder 2 when divided by 4?

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