Supply and demand is a topic I have known and learned about before economics class, and you probably think about it often without realizing and actively thinking that it is a macroeconomics concept. It is very relevant in the world today, specifically for businesses in which the company sells any sort of good or service. The first time I noticed this and mentally noted it as supply and demad was with my first job. I worked at The Gap at the mall near my house when I was 16 years old, because it was one of the only two retailers near our home hiring minors.
At The Gap, the managers always explained to me the amount of stock we have and why we have that amount as it relates to each of the different items we carried. For example, we carried many more baby outfits than men's sweaters. This is because the demand for the baby clothes was higher than the demand for men's sweaters. The customers needed more baby clothes than they did men's sweaters, and as a result, the demand was higher, and similarly, the supply was higher as well. Now this is for a combination of reasons. Baby Gap is a loved retailer by many, but grown men do not often prefer The Gap clothing as they are older and their sense of style has developed into attraction towards many other stores available to them. Whereas, Baby Gap is a safe and common route for parents to buy baby clothing for their babies. As a result of this high demand for baby clothing, we had a high supply of baby clothing always.
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