general rules of supply & demand

definition: If the demand for a product is GREATER than the supply, it’s price will INCREASE. - If the supply of a product is GREATER than the demand, it’s price will DECREASE.

everyday examples

▪ if there are only 100 Atari systems and 500 peopple want them, the price will rise ▪ if there are 100 ps4 systems and 40 people want them, the price will fall

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