How supply and demand affect prices of products and services?

Answer 1

Supply and demand influence market price in various ways. The best known way is when demand is high the price of supply tends to go up. When there is a large amount of supply and demand is low or normal the price of supply tends to go down.

Answer 2

supplly and demand is a pretty simple concept actually. you can get complicated with it, but we'll keep it simple here. for more detailed info, visit wikipedia.

according to wikipedia;

1. If demand increases and supply remains unchanged, then it leads to higher equilibrium price and quantity.
2. If demand decreases and supply remains unchanged, then it leads to lower equilibrium price and quantity.
3. If supply increases and demand remains unchanged, then it leads to lower equilibrium price and higher quantity.
4. If supply decreases and demand remains unchanged, then it leads to higher price and lower quantity.

the equilibrium reffered to here, is the price that a market is supposed to settle on naturally.

Answer 3

If people are interested in a certain good and are buying it at a high rate the manufacture will raise the price of the good so they can bring in more money. If a product/good is not being sold they will lower the price to try to get more buyers.

Answer 4

WELL,

by exchanging money