supply and demand noun
[noncount] : the amount of goods and services that are available for people to buy compared to the amount of goods and services that people want to buy
▪ If the company produces less of a product than the public wants, the law of supply and demand says that the company can charge more for the product.
▪ If the company produces less of a product than the public wants, the law of supply and demand says that the company can charge more for the product.
