Answer:
In economics, there are a series of factors that will be responsible for ensuring that an economy works, or not, and that it prospers, or not. One such factor is the factor of supply, which means, the goods and services that are offered by producers on the market for customers to acquire. On the other end we have the demand, which is, the actual requirements of consumers for the services and goods that are offered by producers. Between these two fundamental factors, accounting for others, of course, that also play a role, an economy moves forward and prices are maintained.
As such, the Law of Supply states basically that when all factors are maintained constant, supply means that as the price of a good or service increases so does the offer of this good or service by suppliers, as it becomes profitable for them to produce such a good, or service. But this means that the reverse can also take place. If the price of a good, or service, plummets, so will the supply and offer of either, or both, of them.
