What are examples of supply and demand?

Answer

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 game console was so popular that Sony actually ran out of them. There was no supply of new PlayStation 2 consoles, but the demand for them remained high. People sold their PlayStation 2 for thousands of dollars because other people were willing to pay that much. If supply and demand are equal, prices are stable. If supply exceeds demands, prices normally decrease. If demand exceeds supply, prices generally go up. All these generalizations work best in a free market where there is no artificial price stablization.
Q&A Related to "What are examples of supply and demand?"
Demand is an amount of thing which a person is willing to buy at a given price. For ex. A mobile cost of Rs15000 and at this price a person wants to buy. and, Supply is a that part
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Supply and demand is an economical term used to compare and describe the amount of goods available and the consumption of the goods by consumers. Supply and demand can be used to
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Groceries are an example of supply and demand. In classical economic theory,
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Consumer demand increases occur when consumers change their preferences. For example, an effective advertising campaign or the results of a medical study on a certain food could change
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