Just as on the demand side, the position of the supply can shift, say from a change in the price of a productive input or a technical improvement. The Law of Supply states that, in general, a rise in price leads to an expansion in supply and a fall in price leads to a contraction in supply.he term economics comes from the Ancient Greek Î¿á¼°ÎºÎ¿Î½Î¿Î¼Î¯Î± from Î¿á¼¶ÎºÎ¿Ï (oikos, house) and Î½ÏÎ¼Î¿Ï (nomos, custom or law), hence rules of the house (hold for good management).
Dr. Mohammad Siddiqui works as a pediatrician in Riverside, CA. He provides primary care for children of all ages, from babies to teenagers.
Sources: Pediatricians David L. Hill, MD, in Wilmington, North Carolina; Robert Lindeman, MD, in Framingham, Massachusetts; Allison Fabian, DO, in Grand Rapids, Michigan; Amanda Moran, MD, in Charlotte, North Carolina; Roy Benaroch, MD, author of A Guide to Getting the Best Health Care for Your Child; and a pediatrician in Virginia who preferred not to be named.