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How many shoes a company has and how many people want the shoes is demand. When the company has more than enough shoes, the supply is larger than the demand so the price is lower. When there aren't enough shoes, the demand is higher so the price is lower. For example, if there is only one dollar in the entire country, one person would be rich because they have all of the money. But if there was one trillion dollars, money would have less value because one dollar would only be 1/1,000,000,000,000th of all of the money.
Wiki User
∙ 13y ago
Wiki User
∙ 11y agoSupply is how much a compony would have of a product. Demand is how much people want it, or are willing to buy it. If the supply is higher than demand, the price will lower. If the demand is higher than the supply, the price will get more expensive.
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When according to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
What does the law of demand suggest that most demand curves will be?
The law of supply predicts the supply curve will be upward sloping.
The law of supply and demand states that the greater the demand for a limited supply of something?
the more it worth
What is general law of demand?
The general law of demand is that as demand increases, so will prices. This is half of the law of supply and demand. As supply increases, prices fall. So price depends upon a balance between supply and demand. This was originally pointed out by Adam Smith, in his book "The Wealth Of Nations".
If demand increases and supply decreaseswhat economic explanation occurs?
Supply will decrease and the price will rise greatly.
Law of demand and supply?
Consumers is the law of supply and demand.
What According to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
When according to the law of supply and demand when supply increases what else happens?
According to the law of supply and demand when supply increases, prices will decrease.
Law of supply and demand which one starts?
In the law of supply and demand, the first to start is the demand as customers are wanting the particular service or product that is being offered.
Law of economics?
Supply and demand.
What does the law of demand suggest that most demand curves will be?
The law of supply predicts the supply curve will be upward sloping.
What is a sentence with the words supply and demand?
Weekly sales ads are subject to the law of supply and demand.
The law of supply and demand states that the greater the demand for a limited supply of something?
the more it worth
What is general law of demand?
The general law of demand is that as demand increases, so will prices. This is half of the law of supply and demand. As supply increases, prices fall. So price depends upon a balance between supply and demand. This was originally pointed out by Adam Smith, in his book "The Wealth Of Nations".
How does the law of supply and demand increase and decrease in supply?
ty
If demand increases and supply decreaseswhat economic explanation occurs?
Supply will decrease and the price will rise greatly.
Why does law of demand and law of supply conflict with each other?
It's the law of supply and demand, as described by Adam Smith in his book "The Wealth Of Nations". Just one law, no conflict.
