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Meaning of "law of supply and demand" in the English dictionary

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PRONUNCIATION OF LAW OF SUPPLY AND DEMAND

law of supply and demand play
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GRAMMATICAL CATEGORY OF LAW OF SUPPLY AND DEMAND

noun
adjective
verb
adverb
pronoun
preposition
conjunction
determiner
exclamation
Law of supply and demand is a noun.
A noun is a type of word the meaning of which determines reality. Nouns provide the names for all things: people, objects, sensations, feelings, etc.

WHAT DOES LAW OF SUPPLY AND DEMAND MEAN IN ENGLISH?

Supply and demand

In microeconomics, supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers, resulting in an economic equilibrium for price and quantity. The four basic laws of supply and demand are::37 ▪ If demand increases and supply remains unchanged, a shortage occurs, leading to a higher equilibrium price. ▪ If demand decreases supply remains unchanged, a surplus occurs, leading to a lower equilibrium price. ▪ If demand remains unchanged and supply increases, a surplus occurs, leading to a lower equilibrium price. ▪ If demand remains unchanged and supply decreases, a shortage occurs, leading to a higher equilibrium price.

Definition of law of supply and demand in the English dictionary

The definition of law of supply and demand in the dictionary is the theory that prices are determined by the interaction of supply and demand: an increase in supply will lower prices if not accompanied by increased demand, and an increase in demand will raise prices unless accompanied by increased supply.

WORDS THAT BEGIN LIKE LAW OF SUPPLY AND DEMAND

law merchant
law of averages
law of effect
Law of Independent Assortment
law of large numbers
Law of Moses
law of nations
law of nature
Law of Segregation
law of the jungle
law of thermodynamics
law school
Law Society
law stationer
law student
law term

WORDS THAT END LIKE LAW OF SUPPLY AND DEMAND

aggregate demand
biochemical oxygen demand
command
consumer demand
counterdemand
demand
excess demand
final demand
in demand
indirect demand
market demand
nondemand
on demand
on remand
peak demand
redemand
remand
supply and demand
tax demand
wage demand

Synonyms and antonyms of law of supply and demand in the English dictionary of synonyms

SYNONYMS

Translation of «law of supply and demand» into 25 languages

TRANSLATOR
online translator

TRANSLATION OF LAW OF SUPPLY AND DEMAND

Find out the translation of law of supply and demand to 25 languages with our English multilingual translator.
The translations of law of supply and demand from English to other languages presented in this section have been obtained through automatic statistical translation; where the essential translation unit is the word «law of supply and demand» in English.

Translator English - Chinese

供求规律
1,325 millions of speakers

Translator English - Spanish

ley de la oferta y la demanda
570 millions of speakers

English

law of supply and demand
510 millions of speakers

Translator English - Hindi

आपूर्ति और मांग के कानून
380 millions of speakers
ar

Translator English - Arabic

قانون العرض والطلب
280 millions of speakers

Translator English - Russian

Закон спроса и предложения
278 millions of speakers

Translator English - Portuguese

lei da oferta e da procura
270 millions of speakers

Translator English - Bengali

সরবরাহ এবং চাহিদা আইন
260 millions of speakers

Translator English - French

loi de l´offre et de la demande
220 millions of speakers

Translator English - Malay

Undang-undang bekalan dan permintaan
190 millions of speakers

Translator English - German

Gesetz von Angebot und Nachfrage
180 millions of speakers

Translator English - Japanese

需要供給の法則
130 millions of speakers

Translator English - Korean

수요와 공급 의 법칙
85 millions of speakers

Translator English - Javanese

Hukum penawaran lan tuntutan
85 millions of speakers
vi

Translator English - Vietnamese

pháp luật của cung và cầu
80 millions of speakers

Translator English - Tamil

வழங்கல் மற்றும் கோரிக்கை சட்டம்
75 millions of speakers

Translator English - Marathi

पुरवठा आणि मागणी कायदा
75 millions of speakers

Translator English - Turkish

Arz ve talep kanunu
70 millions of speakers

Translator English - Italian

legge della domanda e dell´offerta
65 millions of speakers

Translator English - Polish

prawo podaży i popytu
50 millions of speakers

Translator English - Ukrainian

Закон попиту та пропозиції
40 millions of speakers

Translator English - Romanian

legea cererii și a ofertei
30 millions of speakers
el

Translator English - Greek

νόμος της προσφοράς και της ζήτησης
15 millions of speakers
af

Translator English - Afrikaans

wet van vraag en aanbod
14 millions of speakers
sv

Translator English - Swedish

lagen om tillgång och efterfrågan
10 millions of speakers
no

Translator English - Norwegian

loven om tilbud og etterspørsel
5 millions of speakers

Trends of use of law of supply and demand

TRENDS

TENDENCIES OF USE OF THE TERM «LAW OF SUPPLY AND DEMAND»

The term «law of supply and demand» is quite widely used and occupies the 31.565 position in our list of most widely used terms in the English dictionary.
0
100%
FREQUENCY
Quite widely used
86
/100
The map shown above gives the frequency of use of the term «law of supply and demand» in the different countries.
Principal search tendencies and common uses of law of supply and demand
List of principal searches undertaken by users to access our English online dictionary and most widely used expressions with the word «law of supply and demand».

FREQUENCY OF USE OF THE TERM «LAW OF SUPPLY AND DEMAND» OVER TIME

The graph expresses the annual evolution of the frequency of use of the word «law of supply and demand» during the past 500 years. Its implementation is based on analysing how often the term «law of supply and demand» appears in digitalised printed sources in English between the year 1500 and the present day.

Examples of use in the English literature, quotes and news about law of supply and demand

EXAMPLES

10 ENGLISH BOOKS RELATING TO «LAW OF SUPPLY AND DEMAND»

Discover the use of law of supply and demand in the following bibliographical selection. Books relating to law of supply and demand and brief extracts from same to provide context of its use in English literature.
1
Microeconomics
Chapter. Summary. DEMAND • The law of demand states that as the price of a good rises, the quantity demanded of the good falls, and as the price of a good falls, the quantity demanded of the good rises, ceteris paribus. The law of demand ...
Roger A. Arnold, 2008
2
Macroeconomics
Chapter. Summary. DEMAND • The law of demand states that as the price of a good rises, the quantity demanded of the good falls, and as the price of a good falls, the quantity demanded of the good rises, ceteris paribus. The law of demand ...
Roger A. Arnold, 2008
3
Economics
Chapter. Summary. DEMAND • The law of demand states that as the price of a good rises, the quantity demanded of the good falls, and as the price of a good falls, the quantity demanded of the good rises, ceteris paribus. The law of demand ...
Roger A. Arnold, 2008
4
Microeconomics: Principles and Policy
The law of supply and demand states that in a free market the forces of supply and demand generally push the price toward the level at which quantity supplied and quantity demanded are equal. The Law of Supply and Demand In a free ...
William Baumol, Alan Blinder, 2011
5
Institutional Economics. Vol. I: Its Place in Political Economy
Stated in either terminology we shall distinguish the "business law of supply and demand," or "business elasticity of supply and demand" from the "consumers' law of supply and demand" or "consumers' elasticity of demand." 231 In order to ...
John Rogers Commons
6
French Liberalism in the 19th Century: An Anthology
Chapter III. The law of supply and demand Repeal of the Law of Supply and Demand – Newton's Responsibility – Definition of the Law of Supply and Demand – Its Universality – Its Application to Labour – Labour is Merchandise – Strikes and ...
Robert Leroux, David M. Hart, 2012
7
Objective Economics: How Ayn Rand's Philosophy Changes ...
In fact, the law of supply and demand has been widely interpreted to mean that the quantity supplied always equals the quantity demanded at the current price. That interpretation is wrong. The most important exception is workers, who ...
M. Northrup Buechner, 2011
8
Nickel and Dimed: On (Not) Getting By in America
In the new version of the law of supply and demand, jobs are so cheap—as measured by the pay—that a worker is encouraged to take on as many of them as she possibly can. After two days of sprinkling job applications throughout the greater ...
Barbara Ehrenreich, 2010
9
Lessons from Nature: Learning to Live Sustainably on the Earth
Modern economics is largely governed by the law of supply and demand, which describes the interplay of three factors: supply, demand, and price. Basically, the law of supply and demand says that the price of products or services results from  ...
Daniel D. Chiras, 1992
10
The Flawed Foundations of General Equilibrium Theory: ...
Thus, θi(p) is not consistent with the law of supply and demand. Negative excess demand If zi0, the price of commodity i must decrease: θi(p) pi. Because max (zi, 0) 0, this inequality implies pipi pi·Σj max (zj, 0) This condition is verified if there ...
Frank Ackerman, Alejandro Nadal, Kevin P. Gallagher, 2004

10 NEWS ITEMS WHICH INCLUDE THE TERM «LAW OF SUPPLY AND DEMAND»

Find out what the national and international press are talking about and how the term law of supply and demand is used in the context of the following news items.
1
Time to increase minimum wage - Vernon Morning Star
These factors range from the law of supply and demand to governmental tax changes. While these changes do cause small degrees of inflation ... «Vernon Morning Star, Jul 15»
2
Startup showcase: Smoothing innovation of childhood medical devices
You may remember the law of supply and demand from your 10th grade economics class. In short, it states if you have a high supply and a low ... «TwinCities.com-Pioneer Press, Jul 15»
3
Making a case for uncapped salaries - Cincy Jungle
In a free market economy, salaries are driven by the law of supply and demand. If two or more, teams are interested in signing a highly talented ... «Cincy Jungle, Jul 15»
4
A Brief History of the Canon Canonet Rangefinder - PetaPixel
As the law of supply and demand dictates, this meant Canonet cameras were able to be purchased at an affordable price. Today, the Canonet ... «PetaPixel, Jul 15»
5
Organic milk steers Marin farm production to record $101 million
The law of supply and demand played a key role in the organic milk boom, and may be behind a dip in the value of Marin's wine grape crop as ... «Marin Independent Journal, Jul 15»
6
Forbes put Cowboys' worth above $3 billion | ProFootballTalk
It's all the law of supply and demand. People with the money are willing to pay more for something than it's worth due to how scarce it is. «NBCSports.com, Jul 15»
7
Iran to Cooperate With Traditional Oil Importers
The expert added that the law of supply and demand is more important for oil companies than political intrigue. On Tuesday, a group of ... «Sputnik International, Jul 15»
8
Pay Teachers A Market Wage
“The law of supply and demand in terms of wages is not repealed at the doors of our school houses,” Reich declared. Some have tried mightily ... «Carolina Journal, Jul 15»
9
Talk of vacation rental permit moratorium misguided
And because of the law of supply and demand, lodging is becoming more and more expensive. I think we can agree that a significant growth in new hotel rooms ... «SanJuanIslander.com, Jul 15»
10
Reeling Under Gas Price Hikes
... with inventories plummeting by some 42 million gallons, according to gasbuddy.com, and the natural effects of the law of supply and demand ... «Mountain News, Jul 15»

REFERENCE
« EDUCALINGO. Law of supply and demand [online]. Available <https://educalingo.com/en/dic-en/law-of-supply-and-demand>. Apr 2024 ».
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