One of the classic principles of economics is the law of supply and demand.This discussion forum ask you to complete several tasks in your initial post, all related to this law.

First, please explain what is meant by the law of supply and demand and how this law could be graphically summarized. As you do so, pay careful attention to the difference between a movement along a supply or demand curve as opposed to a shift in the curve.

Second, pick a product of your choice (e.g. apples, cars, widgets, etc) and explain how this law can explain the market for this product.