The law of supply and demand is not just theory—it shapes everyday life.
Housing Market:
When more people move into a city, demand for housing increases. If supply cannot keep up, rents and property prices rise.
Labor Market:
When a skill (like AI programming) is in high demand but supply of skilled workers is low, salaries for that job rise significantly.
Oil Prices:
Global oil prices fluctuate depending on demand (economic growth) and supply (OPEC production limits, wars, sanctions).
✅ Seasonal Products:
During mango season, supply increases, and prices drop. But out of season, demand remains while supply decreases, raising prices.
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