The balancing effect of supply and demand results in a state of equilibrium ... believed that a free market would tend toward equilibrium. For example, a dearth of any one good would create ...

If a factor besides price or quantity changes, a new supply curve needs to be drawn. For example ... and demand is a rule of economics stating that the price of a product will reach an equilibrium ...

The law of supply and demand is an economic theory asserting that supply and demand will meet each other at a certain equilibrium price ... the price goes up. For example, if there's a drought ...