Laws of Supply and Demand

What is the law of Supply?
It is said that as the price of a good or service increases, the quantity of goods or services offered by suppliers increases and vice versa.
What is the law of Demand?
 as the price of a good or service increases, consumer demand for the good or service will decrease and vice versa. 

The definitions of both sound every much the same but they do influence each other equally and have effects that can make a business better or worse. These laws are very important to any business because a producer needs to know how much quantity is needed to suffice the demand.

New link on Supply and Demand

I found this site that I thought was incredible and talks about all the aspects of supply and demand. He even talks about how currency is effected and the goods and service market as well.

check it out and let me know what you think???

Supply and Demand link

Supply and Demand Graph

What rlly interesting and you can see for yourself is how the supply and demand chart works. It's interesting about all the things you can predict from numbers and charts and how it can be seen ahead of time. The equalibrium is one of the places that many businesses don't want to be because then there is no profit to be made. Also they don't want to have more supply than demand because then businesses and producers are losing money.

cool isn't it.

Supply and Demand and Gas

What I see in many articles is how supply and demand affects the market. As you can see in the link below we see in a small example of how supply and demand works and how it effects what we pay for even gas. It is a small example that in the end costs us/our parents a lot of money.

Check out this link to see how not only us in Canada are being effected but people in the states and see how they mention the effects of supply and demand

http://www.kgw.com/news/business/WA-Sen-Catnwell-123758009.html

what are the influences??

  Supply and demand influences not only the physical store market but also the stock market and other markets. Such as if there is demand for a new phone then there will be demand for new plans to go with this new phone and then accessories will be needed and so on. One product can have many influences on other products that the public will need.

What is it?

  Supply and Demand are the key things to any market and business. What I think is that supply is something that is available to someone. I think supply is the most important part of the market because demand it very dependent on it. The price of an item is dependent on the supply. Demand is what the market/customers want. If you demand something then you have the money to buy this product and feel it is then a necessity to your life.

Impacts??

  What is something that impacts the whole market, our lives, what we buy, how we act and react? Something that impacts business or any type of industry is supply and demand. It is the one thing that generates the business in a company or for and individual. Supply is what the producer gives to the stores; the demand is what is being asked for. This influences the whole market. If there is little demand of a product then there won’t be a lot of supply being made or sent. If there is high demand for a product, than producers will create a lot of supply which will generate more money into the business.