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Tags: marketing
Categories: Economics & Finance
A theory explaining the interaction between the supply of a resource and the demand for that resource. The law of supply and demand defines the effect that the availability of a particular product and the desire (or demand) for that product has on price. Generally, if there is a low supply and a high demand, the price will be high. In contrast, the greater the supply and the lower the demand, the lower the price will be.
(source: http://www.investopedia.com/terms/l/law-of-supply-demand.asp)
