supply and demand
(sup-ply-and-de-mand)
3 syllables
Definition
noun. An economic model of price determination in a market, asserting that the price of a good or service varies until it settles at a point where the quantity demanded equals the quantity supplied.
Example Sentence
The concept of supply and demand is fundamental to understanding how market economies operate.
More Example Sentences
In a free market, prices are determined by the forces of supply and demand.
Synonyms
market forces; economic model; price mechanism
Antonyms
price control; fixed pricing; non-market allocation
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supply and demand
