Similarly, market expectations and the number of sellers (or competition) can affect the curve as well. What Is the Law of Supply and Demand? The law of supply and demand is a rule of economics ...

Demand and supply curves can be charted on a graph ... and changes in price is called elasticity. Goods that are inelastic are relatively insensitive to changes in price, whereas elastic goods are ...

Scarcity occurs when demand for a good or service is greater ... It can affect a country's money supply, natural resources, available labor, and means of production. Investopedia / Mira Norian ...