72
Lesson 72 of 500 · Extra Passages
⭐ 30 XPSupply and Demand Part 2
📖Story Brief #72
Supply and demand are two important ideas that help us understand how prices are set.
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Supply and demand are two important ideas that help us understand how prices are set. Supply is the amount of a product that is available, while demand is how much people want that product. For example, if a toy is very popular and many kids want it, the demand is high. But if there are not many toys in the store, the supply is low. When demand is higher than supply, the price of the toy goes up. This is how supply and demand work together!
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Question 1
1 of 2What does 'supply' mean?
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