as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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identify an example of a basic economic principle
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the law of supply and demand is a basic economic principle that states that when demand for a good or service increases, the price of that good or service will also increase. conversely, when demand decreases, the price will also decrease.
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