Supply and demand

This week in Micro Society we have been learning about supply and demand. According to the dictionary supply means ' to make something available to someone'.

The demand of something means a consistent request.

If the demand is greater than the supply, it means that you are selling things to fast, and then run out of the supply. I happens because the expense is to low.

If the supply is greater than the demand, it means that the expense is quiet high, so people won't buy the product to quick.

This also helped us with the simulation. So when we were selling things, we wouldn't put our products at a very low price.