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A student of commerce knows the significance of supply and demand of a product in the market. In these days more and more commodities as well as services are becoming marketable as the professional agencies are providing the products or services that have great demand in the market. In the unit families, to meet its need, the commercial agencies are playing a big role. Whether you need to admit your child in a school to provide her good education or to buy an equipment that is required in your family or agency, you can find better services as well as better from the market as all of these types of facilities are available in the modern market. Therefore, you can ask for any kind of services from the relevant agencies as per your need. In addition, when you ask for a service or a product from the market, one more thing that you would like to bring into your notice is the price of the product.
Now, let be familiar with the issues that are related with fixing the price of a service or a product. The price of a product is dependent on different things, such as the material cost, the manufacturing cost and last but not the least cause is the ratio of demand and supply of the product in the market. In the full competition market, the customer get different types of advantages, such as getting products of good quality at cheaper price, home delivery, etc. On the other hand, a product that has low demand but supply is enormous, then the price of the product also decreases as the product doesn't get customers as per its supply. This is the reason; in both the cases, a customer remains at the benefited side. However, if you buy a product that have low supply but the demand of the product is high, then, no doubt, the price of the product would increase at a high rate.
This is the reason; the demand and supply of a product in different types of market determines the price of a product or of a service. In these days, as families are breaking into parts and these families are emerging as the unit families, the requirement of different types of household fittings are increasing at an accelerating rate. On the other hand, as the demand of these products is too great, therefore, business agencies are also launching different types of products in the market. In addition, these agencies are offering Office Tables made of different products, such as wood, iron and steel, glass, fiber, etc. This is the reason; not only a great variation in the available household fittings are observed but the price of these products also becomes influenced tremendously. If you want to get the wooden furniture, then you can get it of different woods and the price would vary accordingly. Some wooden products are costly and some are cheaper too. Therefore, if you prefer to buy the Office chairs made of iron or wood, you would have to pay accordingly to buy the product from the market.
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