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| It's so hot outside. I think I need to buy an air conditioner. | |
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| I know. Let's hurry, they may not be in stock long. | |
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Law of Demand: inverse relationship between the price of a product and the quantity consumers are willing to pay.
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| Oh no, it looks like everyone had the same idea. | |
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| Because of extreme heat, it seems there is a change in consumer expectations and now there is a high demand to stay cool. | |
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Law of Supply: direct relationship between price and quantity supplied.
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| It seems the store's supply of air conditioners off guard. They will need a greater supply. | |
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| These manufacturers will sure make a profit, I will pay anything, for any type of air conditioner to stay cool. | |
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