Demand and Supply

Supply and demand are very powerful factors in the economy. These two factors have perhaps the greatest effect on the price of a given commodity. A commodity is a material or article as opposed to a service. Demand is how much a person or group of people wants a particular commodity. Supply is the amount of the particular commodity. While these two factors are not directly related, they are related in a way. They are related in the sense that they have a huge impact on the price of a commodity. If the demand of a commodity is ...