How does supply and demand affect consumers?

The consumers are affected by the shortage of products when the demand exceeds the supply of the product

Step-by-step explanation:

When the demand exceeds the supply then it results in the shortage of the particular product.

When the prices are much lower as compared to previous price of the product the demand for the product increases. So, when the prices are lower all the people want to buy the products on a high scale thus giving a high increase in the demand of the product.

And the the demand for any product increases very suddenly then the supply cannot meet the requirements of the demand and as a result the shortage of the product occurs.

Also, When the shortage occurs with a high demand then the prices for the product increases rapidly in order to minimize the demand of the people and thereafter it can meet the demands of the people.

Hence, The consumers are affected by the shortage of products when the demand exceeds the supply of the product

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step-by-step explanation: