The law of supply and demand explains the interaction between the supply of and demand for a resource, and the effect on its price.
 | | Law of Supply and Demand | | The law of supply and demand is a theory that explains the interaction between the sellers of a resource and the buyers for that resource. The theory defines what effect the relationship between the availability of a particular product and the desire (or demand) for that product has on its price. Generally, low supply and high demand increase price and vice versa. | | Read More » | | Related to "Law of Supply and Demand" | | | | Equilibrium | | Equilibrium is a state in which market supply and demand balance each other, and as a result, prices become stable. | | Read More » | | | Production Costs | | Production costs refer to the costs incurred by a business from manufacturing a product or providing a service. Production costs can include a variety of expenses, such as labor, raw materials, consumable manufacturing supplies, and general overhead. | | Read More » | | | Elasticity | | Elasticity is a measure of a variable's sensitivity to a change in another variable. | | Read More » | | | Market Price | | The market price is the cost for an asset or service. The price will fluctuate based on supply and demand and future expectations of the asset or service. | | Read More » | | | | | | CONNECT WITH INVESTOPEDIA | | | | | | | |
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