The role of market laws in the sustainable functioning of a market economy

This article discusses the importance of market laws in the sustainable functioning of a market economy. The author explains the essence of the law of supply and demand. It has been analyzed that modern market laws should be based on free competition. The science of economic theory is the science of the development of production relations, the subject of which is production relations. When the demand for a good falls, the price will fall, and this will means that at the prevailing market price this product will be in excess. Firms will be forced to cut prices to get rid of surpluses.