Writing of the Declaration of Independence

Law of Supply and Demand

 

The “law” of Supply and Demand is an economic theory that stipulates that the scarcity or amount of a product available (Supply) and the desirability of the product (Demand) are significant factors in determining the price of the product.

 

The less available (Low Supply) and more desirable (High Demand) that a product is the higher the price will be.

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