Topic > The Economy: The History and Development of the Economy

If an item is in demand, the price of the item is low to sell quickly. However, as the item gains more popularity and demand, owners may increase the current price because it is the new "must have" item. However, sooner or later a store is bound to run out of stock because it does not have an infinite number of an item. So, when a consumer goes to buy a product, say a cane, and is not in the store, demand increases without supply. So consumer a goes to store two where the cane is available, but the price of the cane increases because the supply is limited. So instead of paying $10 in store one, you pay $15 in store two for the same product. However, when both shops run out of rods with such high demand, they order more. With the new shipping in both stores one and two you can charge not $10, not $15, but $16+ because the demand is so high. Knowing the law of economics is good, but what is more important is how we measure it in the 21st century