economics
supply and demand
The economic model describing the relationship between the availability of a product and the desire for it, which determines price.
Example
"When demand for housing exceeded supply, prices rose sharply in the city."
💡 Memory Tip
SUP-ply what's available, DEM-and what's wanted. When demand > supply, prices rise.
Etymology
Supply (what's available) + demand (what's wanted) — the two fundamental forces of any market.
Common Misspellings
supply and demendsuply and demandsupply and demmand
Related Terms
See Also
pricemarketequilibrium