Supply and Demand
Supply and demand is a fundamental economic model that describes how the price and quantity of goods or services are determined in a market. It posits that the price of a good adjusts to balance the quantity supplied by producers with the quantity demanded by consumers, influenced by factors like production costs, consumer preferences, and market competition. This concept is widely applied in economics, business strategy, and market analysis to predict price movements and resource allocation.
Developers should learn supply and demand to understand market dynamics when building products, setting pricing strategies, or analyzing user behavior in tech ecosystems. It's crucial for roles in product management, data analysis, or entrepreneurship, helping optimize features, forecast demand for services, or evaluate competitive landscapes. For example, it can inform decisions on scaling infrastructure based on user growth or pricing SaaS products effectively.