Supply and demand is starting point in economics it works like this. If demands are high, the prices go down. On the other hand, if the prices are high, demand goes down. It is really simple when you think about, but it helps a lot to know how it works. For example, if you sell your strawberries during the strawberry season the supply of strawberry will be high, so the price will go down. However, if you wait and sell your strawberries in the winter the supply will be low so the price will be higher.
Supply and demand as not affected my game a lot because I just reached turn 100. However, copper and spices are in demand in my city this makes the price I'm willing to pay for those 2 resources much higher. Since I'm the only one on my knowledge to want these two resources, making the demand very low and by the law of supply and demand the prices higher. I personally did not change the supply and demand yet, but I think that my possession of most of the world's gold (at my knowledge) will affect the supply and demand later on in the game.
A great example of supply and the demand in history would be when Colombus found the Americas. The only reason the Americas were found at that time is that Colombus wanted a faster way to get to India. Then you know the story he sails to India by the Atlantic and lands in America instead. But do you know why Colombus wanted a faster way to India? The answer supply and demand. During that time period a resource Europe was lacking was spices. This made the demand very high therefor, making the price low and dissuading any farmers from farming spices. But in India the supply of spice and the demand were pretty average almost at an equilibrium (perfect price with demand matching supply= equilibrium) So Colombus was sent by the king of Spain to get spices from India where the spices costed less.
This is how the law of supply and demand affects the real world and Civ 5.
This is how the law of supply and demand affects the real world and Civ 5.
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