Question

describe the principle of supply and demand including how it affects the prices of the goods and services

Answer 1

The principle of Law and Supply is an Economic theory that explains how supply and demand are related to each other and how that relationship affects the price of goods and services. It's a fundamental economic principle that when supply exceeds demand for a good or service, prices fall. When demands exceeds supply ,prices tend to rise.


Hope this helps you!
Good Luck!