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Essay text:
When the demand is great the price will increase because increase demand may result in a scarcity of the product.
Along with price other factors may affect the cost of a product. When the economy is good and individual's income levels are increasing then he or she may be willing to pay more for products he or she desires. New technological inventions can also be a catalyst for how supply and demand will be affected. The invention of new and innovative means of improving the production of a product can lead to a shift in the supply; therefore, the increase in supply will be evident. Likewise, slow technology growth or supplies in low numbers can lead to a decrease in supply...
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