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Changes
Added Biblical reference.
The demand for a [[Widget|widget]] at a given price, is how many (or how much) of that widget people will want to buy at that price. If demand at a price exceeds [[Supply|supply]], there will be a [[Shortage|shortage]]. If supply exceeds demand there will be an [[Oversupply|oversupply]].
The demand for a [[Widget|widget]] at a given price, is how many (or how much) of that widget people will want to buy at that price. If demand at a price exceeds [[Supply|supply]], there will be a [[Shortage|shortage]]. If supply exceeds demand there will be an [[Oversupply|oversupply]].
An example of when demand overwhelmed supply is in Genesis 41-47, when Joseph's ten brothers came to Egypt, the only place near where food was still available. Because Joseph wisely saved corn when it was plentiful, he had enough to sell.
[[Category:Economics]]
[[Category:Economics]]