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What is demand and supply theory?In fact, any markets are nothing more or less to predict demands and it is not necessary a fixed sale place or market location, but simply buyers and sellers are coming together for transactions. The law of demand supposes that is as price increase or decrease, consumers will purchase less or more of the specific commodity.The law of demand predicts, that when one product's price falls, then the quantity demanded will be influences to increase. The reasons may include: The consumer feels the product's utility is raised to the product for use aim, pleasure feeling from the consumptin of commodities. So, when the product's price falls, they will feel more needs to buy the product for utility aim in possible. It is based on the law of demand. Also, when the consumer's income increases, which effectively increased command one, any products more of everything will be demanded. So, every consumer's income increases or decreases, the income effect will influence their consumption desire.Following, when the brand of product has another substitution, that consumers feel the another substitution can replace it. Then, the substitution effect can influence the price of the another brand of commodity increases, consumers will buy less of it and more of the another substitution commodity. However, there are non-price factors or determinants, they can influence consumers' demands to the product. They may include: The chaning tastes and preferences of ocnsumes, the number of consumers, the money incomes of consumers, the prices of related products, and consumers ' expectations concerning future availability or prices of the commodity.The law of supply indicates changes in one more of non-price determinants of supply cause the supply number to change. The non-price determinants of supply may include; The product's resource prices change, manufacturing technology improvement, tax and subsidies, prices of other products, expectations concerning futur