Supply and demand is a fundamental economic model that describes the relationship between the quantity of a good or service supplied by producers and the quantity demanded by consumers at various prices. According to the law of supply, producers are willing to supply more of a good or service at higher prices, while the law of demand states that consumers are willing to purchase more of a good or service at lower prices.
Price follows the crowd 📈📉 More demand, higher prices; more supply, lower prices.
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