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Cake day: June 21st, 2023

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  • kn0wmad1c@programming.devtoMicroblog Memes@lemmy.worldPrice gouging
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    16 days ago

    “Supply and demand” refers to the two-way street of scarcity wherein the less “supply” there is, and the more “demand” for the product, the higher the price will be. The point is, if you want to attribute it to “supply and demand”, you need both ends - the scarcity of supply, and a rise in demand. If you have one or the other, but not both, and prices increase, it’s due to other causes.