Law of supply

In economics, supply and demand describe market relations between prospective sellers and buyers of a good. The supply and demand model determines price and quantity sold in the market. The model is fundamental in microeconomic analysis of buyers and sellers and of their interactions in a market. It is also used as a point of departure for other economic models and theories. The model predicts that in a competitive market, price will function to equalize the quantity demanded by consumers and the quantity supplied by producers, resulting in an economic equilibrium of price and quantity. The model incorporates other factors changing such equilibrium as reflected in a shift of demand or supply.
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if demand is held constant, an increase in supply leads to a decreased price, while a decrease in supply leads to an increased price.

if demand is held constant, an increase in supply leads to a decreased price, while a decrease in supply leads to an increased price.

Supply exhibits an inverse relationship to price. If all other factors hold constant, an increase in supply causes a decreased price, while a decrease in supply causes an increased price.

Other things being held constant, the higher the price of a good (or service), the larger the quantity of that good (or service) that will be offered for sale in a particular time period.
[See also: supply, supply curve, law of diminishing returns, marginal analysis, marginal productivity]