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Law of Supply and Demand Definition and Explanation
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 Demand Definition
The law of demand states that quantity purchased varies inversely with price. In other words, the higher the price, the lower the quantity demanded.
How Does the Law of Supply and Demand Affect Prices?
Learn how the law of supply and demand affects prices, such as when one outweighs the other, prices can rise or fall in response.
Are there any exceptions to the law of demand in economics?
Read about some possible exceptions to the law of demand in microeconomics price charts, and learn why those exceptions do not necessarily disprove the law.
Why Are Price and Quantity Inversely Related According to the Law of Demand?
The cost of a good is inversely correlated to its quantity demanded according to the law of demand in microeconomic theory.
How does the law of supply and demand affect the stock market?
Find out how the law of supply and demand affects the stock market, and how it determines the prices of individual stocks that make up the market.
Who discovered the law of supply and demand?
Learn who discovered the law of supply and demand - an important economic principle that's hundreds of years old but still affects the economy today.
What Are Some Examples of the Law of Demand?
Find out how the price of a good or service affects the quantity demanded, and explore instances of consumption reflecting changes in price.
Housing Market Supply and Demand
The law of supply and demand is an economic theory that drives many industries, including the real estate market.
Demand theory is a principle relating to the relationship between consumer demand for goods and services and their prices.