the economic statement that the competition of buyers and sellers tends to make such changes in price that the demand for any article in a given market will become equal to the supply. In other words, if demand exceeds the supply the price rises, operating so as to reduce the demand and so enable the supply to meet it, and vice versa. —Brewer's Dictionary of Phrase and Fable. (The Road to Perfection) Final approval 14/11/89