Supply and Demand

Supply and demand is the amount of a product which is available and the amount which is wanted by the customer (www.businessdictionary.com/definition/supply-and-demand.html). There are so many different things that fall under the supply and demand category. One thing that I can say there is a huge supply and demand for smartphones. There is so much that you can do with smartphones on the go that you could/can do on your home computer. This makes life much easier for a lot of people.

Many years ago when cell phones first came out everyone want or had to have one. At the time they were so expensive that not as many people could afford them so the demand for them was not as high for them as it is now. As years passed, along with many others electronic devices there have been much improvement. When the prices became affordable for cell phones a lot more people were able to afford them which made the demand for them much higher than it used to be. There are more cell phone carriers now than it was in the past that contributes to the lower more affordable prices. The competition is high so all the carriers want to get as many customers as possible.

Now we come to the invention of the smartphones and touch screen phones which can do just about everything. They are a computer in your hands (on the go). The first "smartphone" was made in 1992 by IBM called Simon which was shown at an expo and released to the public in 1993 by Bellsouth (http://www.itlog.net/content/first-smartphone). In 1996 the Nokia 9000 was listed as a communicator, but was arguably the first in a line of smartphones (http://www.itlog.net/content/first-smartphone). Later down the line Apple introduced the iPhone that sold out quickly. There was so much demand for them that suppliers were not able to keep the phone in stock. Next was the android (another smartphone) that was high in demand but low on supplies. So many people feel in love with the things that these phones can do which made the demand for them so high. When I bought my smartphone my cell service provider told me they didn't expect the demand for them to be as high as it was which caused a delay in the delivery of the phone. You could order the phone, but it would take a couple of weeks to get it.

There are some factors that could cause possible changes in supply and demand. They are the availability of the product, the cost of the product and the quality of the product. If the product is available consumers will by the product, if the price is right they will by the product and if it lives up to the expectations they will but the product. Two substitutes for the smartphone would be mini notebooks and the new tablets they have introduced. These things can do the same thing the smartphones do. With the notebooks and tablets you can use the camera to see and talk with your friends and family. The complements for smartphones are they help you to do school work, business, check the stock