please help me with economics question? Desperate?

B

Britney

New member
I'm getting desparate. I'm in year 11 and i haver an economics test tomorrow.
The law of supply states that "if the price of a good or service rises, the quantity supplied will also rise". Why is this?
Any help would be VERY much appreciated!!!
But no one's gonna buy the good or service (demand has gone down) so why would they try to sell more of the product? Won't the producers lose money by producing goods/services thay cannot sell?
I don' get it. i'm confused
 
The good or service becomes more profitable, therefore if there is more chance of a good profit, more and more people will enter the market and sell the product or service.
 
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