supply and demand
US /səˌplaɪ ən dɪˈmænd/
UK /səˌplaɪ ən dɪˈmænd/
1.
the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price and availability
:
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The price of oil is determined by supply and demand.
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Understanding supply and demand is crucial in economics.