According to the law of supply, price and quantity move in the same direction. This means that an increase in price typically results in an increase in the quantity supplied, while a decrease in price generally leads to a decrease in the quantity supplied.
To explain further, when prices rise, producers are more willing to supply more of a good or service to the market because they can potentially earn more revenue and profit. Conversely, if prices fall, the incentive for producers to supply that good diminishes, resulting in a lower quantity supplied. This relationship is fundamental in economics and is visually represented by an upward sloping supply curve on a graph where price is on the vertical axis and quantity is on the horizontal axis.