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Canada is one of the world's largest producers and exporters of softwood lumber which accounts for 20% of their forest exports with the United Stated being its largest export market. There are two categories of lumber. Hardwood and softwood. Hardwood is mainly used for items such as furniture, tools, and flooring, whereas softwood is primarily used for building homes because it's more flexible and lighter in weight than hardwoods. The law of supply states that an increase in price results in an increase in quantity supplied, while the law of demand states that as the price of a product rises, the demand for it falls, and as the prices drop, the demand increases. When the COVID-19 pandemic began, the retail price of softwood lumber in the U.S. increased from $12.80 to $48.00 per sheet. A high rate of residential construction and a surge in home renovations, coupled with labor shortages during a time when the demand for lumber increased dramatically, made the prices extremely volatile. Producers of lumber couldn't keep up with demand. The determinant of demand for softwood lumber during the pandemic was people having more money to spend. Traveling for vacation and other niceties were put on hold; therefore, families were willing to use that money on wood for home renovations. In my opinion, I think supply and demand is a never-ending game of tug of war. Considering the laws of supply and demand, although the demand was high for lumber, prices ended up quadrupling because of supply chain setbacks, making the curve for quantity demand go to the left.