Welcome to the most complete directory on the Web of Sonography Technician programs. It contains all the nationally accredited programs, from 238 schools across the country. You can scroll down to see the school listings.
DEFINITION of 'Law Of Supply And Demand'. A theory explaining the interaction between the supply of a resource and the demand for that resource. The law of supply and demand defines the effect that the availability of a particular product and the desire (or demand) for that product has on price. Generally, if there is a low supply and a high demand, the price will be high.
Supply is the amount of a product producers are willing and able to sell at a certain price. Demand is the consumerâs desire and willingness to pay for a price for a certain product or service. Background. Supply is a basic principle that is used to determine the price of a product. It is most commonly used in economics.