Supply is how much there is of a product. Demand is how much the product is wanted or needed by consumers. When supply is low, & demand for the product is high, it forces the price to go up.
It's a fundamental economic principle that when supply exceeds demand for a good or service, prices fall. If there is an increase in supply for goods and services while demand remains the same, prices tend to fall to a lower equilibrium price and a higher equilibrium quantity of goods and services.
