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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
Balancing supply and demand is essential for an economically stable market.
In a free market economy, prices are determined by supply and demand rather than government intervention.
A market economy allows businesses to operate based on supply and demand without government interference in pricing.
Agricultural commodities such as wheat, corn, and soybeans are subject to fluctuations in price based on factors like weather conditions and supply and demand.
In his lecture, the professor emphasized the mundane aspects of economics, such as supply and demand, rather than delving into abstract theories.
