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For example the iphone 7 cost more than the iphone 6s

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The X-Box one was at high cost but it is now lower cost. But when the X-box one s was out the cost was lower.

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we infer that the iphone 7 would be more expensive than the iphone 5s.we know this cause the iphone 7 is the last iphone to come out.so that is how we know that the iphone 7

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Here are some examples of Prices. Prices is how much a product is listed. Goods are candy expenseive cloths and shoes something you have. Service- A person could be a service. Supply is how much of a prouduct you have. Demand is pay a price for a spefice goal or service.

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if the supply of the iphone 7 is low and the demand is high the cost goes up and vice versa.if you need food before a tsunami  the cost will go up.the xbox one was in high demand and the supply on black friday was low so the cost is high.

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we think one example is an Iphone 7s the defenition

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An iphone 6s or an iphone 6 plus used to cost a lot of money because it was new. so it was high demand but then a couple of years a new phone came out it was a iphone 7.So the demand went down for the iphone 6s and plus.But the iphone 7 had a high demand because it was new and alot of people wanted the iphone.It cost a lot of money the first day it came out.

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we infer about supply and demand
the price is high when the supply is low the price is also high when the demand is high the price is low when the demand is low the price is low when the supply is high

Example 1. hachamals are low in supply so high in cost also high is demand so high in cost.

Example 2. iphone is high in demand so the cost is higher than the iphone 3 because the iphone 3 has lower demand.

Example 3. Gas the price is high because the demand is high. so the supply is low. so we get more.

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~The IPhone 7 has high demand so they need to have a big supply to support the demand and this causes the prices to go up. ~Another example is the Playstation 4. when it first came out the demand was high and supply was low so the price becomes higher.                                ~Another example is computers. when the computers first came out the demand was very high and so the supply was not as high. this caused the price to go up.

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The price of a computer is higher because the demand is high.The supply of the computer is low because not alot of people have bought it.Picture it like this if the demand is high the price is high.One example is the price of the iphone7 is high in demand so the supply is high because people have bought it.

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we said that iphone 7 is more expensive because it is newer than an iphone 5 and they are making more iphone 7s and so the demand go's up and on the iphone 5 the demand go's down because it is no longer popular.

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Prices- One thing that is exchanged or demand in barter.Goods-its a material that satifies human wants. Something you buy or sell. Services- A service is an economic activity where an immaterial exchange of value occurs. Supply- Supply is a fundamental economic concept that describe the total amount of a specfic good or service. Demand- Demand is an economic principle that describe a consumers desire and willngness to pay a price.

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1.The iphone 7 is higher than the iphone 6 because the iphone 7 is in more demand witch means more people want it.  2.The ps4 is higher than the ps3 because it has more demand than the ps3. 3.the xbox one has a higher demand than the Xbox 360 because its new, better, and improved.

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The Xbox one S is going to be at a higher price than a xbox 360 because more people wanna buy it.Another example is more people want to buy the 2DS  over the 3DS so the price will go up on the 2DS and the price will go down on the 3DS.The last example is more people wanna buy KD9's more than they wanna buy KD8's so the price on the KD9's will go up and the price on the KD8's will go down.

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we said...
the price of something is usually higher when the product is newer and there is not as much of it (low supply high demand). so when apple computers/ laptops first came out the price was higher than it is today. So that means that when there is a higher supply of something then there will be a lower demand in pricing.

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The price of the IPhone 7 is higher because the demand is higher. The supply of the IPhone 7 is low because a lot of people have bought it. The demand is high because it is the newest model of the Apple industry.  Another example is the IPhone 5 has a higher supply because the demand is lower and the price is low also because nobody wants the iphone 5. The iphone 6 has a lower price than the IPhone 7 because the iphone 6 has a lower demand and higher supply.

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The price of a macbook air is going to be higher because the demand for it is higher.But since it is new the supply is lower then it should be.So the services would be booming with citizens buying the new good.Another present day example is the new iphone7plus.It is brand new so more people want to buy so demand is high price is low and the price is going up.While same for macbook the stores will be booming to buy the new iphone.
The last real world examples would be the new g.o.a.t cases. The g.o.a.t  case is a very popular case and everyone wants one so the demand would be higher bc it  is new and everyone wants one, the supply would be lower bc they would run out of stock faster bc it is a new product and everyone want it.