Laws of Supply and Demand

What is the law of Supply?
It is said that as the price of a good or service increases, the quantity of goods or services offered by suppliers increases and vice versa.
What is the law of Demand?
 as the price of a good or service increases, consumer demand for the good or service will decrease and vice versa. 

The definitions of both sound every much the same but they do influence each other equally and have effects that can make a business better or worse. These laws are very important to any business because a producer needs to know how much quantity is needed to suffice the demand.