supply and demand
Price-setting duo
Supply and demand is the economic principle that prices rise when goods are scarce relative to desire for them, and fall when goods are plentiful.
Supply is how much is available; demand is how much people want it.
The phrase often appears as shorthand for market forces generally: It's just supply and demand—there aren't enough houses for all the buyers.
- marketVenue for trade
- free marketCommerce without state intervention
- surplusAmount exceeding requirement
- shortageDeficient supply of necessities
- scarcityInsufficiency of something needed
elasticity · competition · capitalism · price · going rate · outputs · trade · stock market · microeconomics · market economy · buyer and seller · laissez-faire · inflation · wholesale · retail · bidding · commodity · production
- economicsinflation, GDP, GNP, gross domestic product, gross national product
- economic termsfree market, bull market, bear market, inflation rate, interest rate
- free marketsfree market, free enterprise, free trade, free markets, laissez-faire
- theories & lawsParkinson's law, Peter principle, 80-20 rule, diminishing returns, comparative advantage
- business termsfranchising, revenue stream, board meeting, gross margin, markdown
- capitalismcapitalism, free market, free enterprise, private property, profit motive
supply and demandcentral planning
Government directs all production
command economy · planned economy · state control · economic planning · rationing
supply and demandcommunism
Collective ownership system
socialism · Marxist economics · Marxism-Leninism · Stalinism · Maoism
supply, demand, supplies, demanded, supplied, supplier, demands, oversupply, suppliers