which of these statements best represents the law of supply?
- 57 Views
- Vinay Kumar
- April 9, 2021
- blog
The law of supply does not always apply to consumers. For example, in the case of the iPhone, Apple has a good example. There are two levels of self-control, one level of self-control that only applies to the consumer, which means that a person’s behavior can have a major impact on their own destiny.
The law of supply does apply to consumers, but it also applies to producers, or companies whose primary task is to make something. For example, if you’re making a new car, you’re almost certainly not only making a car, you’re probably also making a lot of parts and a lot of money from the sale of the car.
The law of supply doesn’t apply to producers like factories that create the components for the components that are used in making products. For example, a company might make a new airplane but don’t make the parts used to make the wings, or even the wings themselves. In that case, the law of supply only applies to the company, and not to the consumer.
The law of supply applies to producers that produce items for the consumer. If you want to make a car, you can produce a factory and then sell it to the consumer, but in reality the consumer is not the producer. And the consumer is the producer.
As a consumer, you can’t really rely on a company to produce the parts for your car. It would be a waste of money. But you can rely on a company to produce the parts that make your car safer.
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