Supply and demand

      Economic is very important and it helps to understand many thing in our life such as prices. We usually when we go for shopping we notice different prices for grocery, clothes and so on and we don't know the resin for prices diversity. Economists always have answers for these kinds of question which they come up with many laws clarify these mysteries. One of these laws is supply and demand laws. Which is considers the easiest laws and economy sciences. Supply and demand is an economic model of price determination in a market.  Actually, Supply and demand depend on the availability of the product and rarity. If the number of the product increased the price of product decrease and if the number of product decreased, the price of product increases. “There is a preference for orange among the south Indian households this season. With apple and grape prices ruling high coupled with a loss of banana crop in Kerala, orange is the favorite fruit on the breakfast table among south Indians. Orange is selling at Rs40 per kg whereas banana, the commoner's fruit, is selling at Rs50-60 per kg, while apple is priced double that of orange” by Sutanuka Ghosal & PK Krishnakumar.