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One of the most fundamental concepts in economics is the relationship between supply and demand, which helps explain how prices are determined in a market. When the supply of a good decreases while demand remains constant, prices tend to rise, as buyers compete for the limited quantity available. Conversely, when supply increases without a corresponding rise in demand, prices typically fall, since sellers must lower prices to attract buyers. Demand itself is influenced by factors such as consumer income, preferences, and the availability of substitute goods. Markets are said to reach equilibrium when the quantity of a good that suppliers are willing to sell matches the quantity that consumers are willing to buy at a given price. In reality, however, markets rarely stay in perfect equilibrium for long, as constant changes in supply, demand, and external conditions continuously shift prices.