law of supply and demand

British  

noun

1. the theory that prices are determined by the interaction of supply and demand: an increase in supply will lower prices if not accompanied by increased demand, and an increase in demand will raise prices unless accompanied by increased supply

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Example Sentences

The economic law of supply and demand is simple enough, but Los Angeles is defying it again by tightening its rent control law in the name of housing affordability.

From The Wall Street Journal

It’s about the old law of supply and demand.

From Los Angeles Times

"If the world supply is lower because Spain is producing less and the demand remains the same, the price goes up - it's the law of supply and demand."

From BBC

It is one of the only things some economists agree on since the law of supply and demand shows that price ceilings result in shortages.

From Seattle Times

Gas prices surged — the law of supply and demand.

From Los Angeles Times