Think of supply and demand as two dancers in the economics tango. 💃🕺

💡Supply = how much of a product is available.

Like how many apples are in the market! 🍏

💡Demand = how much people are willing to pay for that product.

Like how many people want to buy those apples 🛍️.

Sellers determine their prices based on supply and demand to make a profit. 💵

If there are tons of apples (high supply) but not many apple lovers (low demand), the price of apples may go down! 📉

But if there are only a few apples (low supply) and lots of apple lovers (high demand), the price may go up! 📈

This dance between supply and demand is what decides the prices of everything around us! 💲

So next time you see a price tag, remember it's a result of the supply and demand dance! 🏷️

Now you know how the dance of supply and demand sets the rhythm of our economy! 🤸‍♂️