Supply

Real World Example

In history, the concept of supply was crucial for African Civilizations, especially for trading goods like gold, salt, and ivory, which were abundant in specific regions. These resources supported trade networks, connecting African societies with Europe and Asia, and allowed civilizations to thrive economically. However, controlling the supply of these resources often led to conflicts and power struggles among different groups. Today, supply remains important in everyday life, as it affects the availability and price of goods we use daily, like food and gasoline. For example, if a drought reduces the supply of corn, the price of corn-based products, such as cereal or popcorn, might increase, impacting your family's grocery budget.