What Is the Law of Supply and Demand?

Answer

The law of supply and demand is that the demand for a certain product and the supply of that product will determine the price. An example of supply and demand is if the demand for gas goes up but the supply stays the same then the price will rise. If the demand goes goes down and the supply stays the same then the price will drop.
Q&A Related to "What Is the Law of Supply and Demand"
An example of the Law of Supply is: The price of an object increased, so the quantity supplied of that object also increased.
http://wiki.answers.com/Q/What_is_an_example_that_...
An example of the Law of Supply is as the price of a good increases, suppliers
http://www.chacha.com/question/what-is-an-example-...
Economists refer to the line showing the relationship between the price of an item and the number of units available for sale at that price as the supply curve. Similarly, the line
http://www.ehow.com/about_6418105_meaning-law-supp...
It would be A. An increase in price leads to an increase in quantity of sandwiches they supply. B. is true in the long run.
http://answers.yahoo.com/question/index?qid=201001...
Explore this Topic
Supply and demand is the economic model for determining price in a market. Examples of supply and demand include the secondary market for the PlayStation 2. The ...
The law of supply is a microeconomic law stating that as the price of a good or service increases (and all other factors being equal), the quantity of goods or ...
A product with an inelasic supply is a flight ticket or gasoline. This is a product that is sold no matter what the price is. A product with an elastic supply ...
About -  Privacy -  Careers -  Ask Blog -  Mobile -  Help -  Feedback  -  Sitemap  © 2014 Ask.com