QUESTION 3 What is the Law of Supply and Demand? The less there is, the less people want. The more there is, the less people want. The more there is, the more people want. Government supplies it because people demand it. Farmers created the term to promote growth.

The more there is, the less people want.

Explanation:

Think about the "latest and greatest" toy, or iPhone that gets released just before the Holidays. There aren't that many in production, therefore, the item is highly desirable, despite the initial cost being high. As the product becomes more available, the cost generally decreases, as well as the desire to obtain the product as desperately.

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