Answer:
-It's a fundamental economic principle that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise. ... However, when demand increases and supply remains the same, the higher demand leads to a higher equilibrium price and vice versa.
-Supply and demand have an important relationship because together they determine the prices and quantities of most goods and services available in a given market. According to the principles of a market economy, the relationship between supply and demand balances out at a point in the future.
Explanation:
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