Definition

Noun: * Supply and Demand: An economic model that describes the relationship between the availability of a product or service (supply) and the desire for it (demand), determining its market price. It is a fundamental concept in economics.

Usage Examples

• (Prices are determined by the law of supply and demand.)
• (The real estate market has an imbalance between supply and demand.)
• (The company must research supply and demand before developing a new product.)

Advanced Usage

• "luật cung cầu" / "quy luật cung cầu": The law of supply and demand. This phrase refers to the theoretical principle itself.
  • Luật cung cầu ảnh hưởng đến mọi thị trường. (The law of supply and demand affects every market.)
• "cân bằng cung cầu": equilibrium of supply and demand.
  • Mục tiêu là đạt được cân bằng cung cầu. (The goal is to achieve an equilibrium of supply and demand.)
• "cung vượt cầu": supply exceeds demand (a surplus).
  • Khi cung vượt cầu, giá thường giảm. (When supply exceeds demand, prices usually fall.)
• "cầu vượt cung": demand exceeds supply (a shortage).
  • Tình trạng cầu vượt cung đẩy giá xăng dầu lên cao. (The situation where demand exceeds supply drives oil prices up.)

Variants and Related Words

• Cung (n): Supply. The total amount of a specific good or service available to consumers.
• Cầu (n): Demand. The desire of consumers to purchase a good or service, backed by the ability to pay for it.

Synonyms

• Market forces
• Market dynamics (in a broader economic context)

Related Concepts

• Thị trường (n): Market. The environment where supply and demand interact.
• Giá cả (n): Price. The primary variable determined by supply and demand.
• Cân bằng thị trường (n): Market equilibrium. The point where supply equals demand.

noun

1. Supply and demand
   • luật cung cầu
     Laws of supply and demand