For the fifth week of class with Dr Fareed,all of us were thought about the food demand and supply.From what I've learned from the previous class,when demand exceeds supply,the price of the products might increase and there will be not enough food to go around. Besides that,when supply exceeds demand,there will be surplus of food and the price might also go down. This SCENARIO always happened in our food industry depends on the problem.
This is because demand and supply plays an important role to our industry and economic. If the price of products are affordable, the demand will increase but if the price rise it will vice versa. SO, before we produce the product to the markets we need to know the customer preference to avoid the loss and lower demands.
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