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supply and demand
01
the relationship between the amount of goods or services that are available and the amount that people want to buy, especially when this controls prices
Example
The interplay between supply and demand determines market fluctuations.
The concept of supply and demand is familiar to most students studying economics.
Economists model supply and demand to understand market trends and make forecasts.
Example
The interplay between supply and demand determines market fluctuations.
The concept of supply and demand is familiar to most students studying economics.
Economists model supply and demand to understand market trends and make forecasts.
The concept of supply and demand in economics is analogous to the law of cause and effect in physics.
A market economy allows businesses to operate based on supply and demand without government interference in pricing.
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