Explain the law of supply.Why does the supply curve slope upward?What are the determinants of supply? What happens to the supply curve when each of these determinants changes? Distinguish between a change in supply and a change in the quantity supplied, noting the cause(s) of each.

The reverse of any or all the above changes in the determinants of demand will cause a decrease in demand and will be shown as a shift of the supply curve to the left.Less will now be supplied at any given price.Alternatively expressed, any given amount will now be supplied at a higher price.