law of supply and demand


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Related to law of supply and demand: law of diminishing returns

law of supply and demand

n
(Economics) the theory that prices are determined by the interaction of supply and demand: an increase in supply will lower prices if not accompanied by increased demand, and an increase in demand will raise prices unless accompanied by increased supply
References in classic literature ?
I assume that a salary is the price paid for a commodity, and it ought to conform with the law of supply and demand.
According to the economic law of supply and demand, when prices fall, farmers should cut back on the amount of food they produce, which would shrink the supply of food and drive up its price.
According to the economic law of supply and demand, the supply of a product should fall when prices
The answer lies in the familiar law of supply and demand, which tells us that if supply increases faster than demand, prices will fall.
Forecast errors no more invalidate this principle of economics than would a failed prediction of price repeal the law of supply and demand.
Judging by Manhattan's lodging market, the law of supply and demand also seems to have been written off the books.
Ands, finally, she said there is no new construction and, relying on the law of supply and demand, that eventually will led to growth.