One of the most basic economic laws, the law of supply and demand ties into almost all economic principles in one way or another. In practice, supply and demand pull against each other until the market finds an equilibrium price. However, multiple factors affect both supply and demand, causing them to increase or decrease in various ways. In the article “Output shortage driving up Aussie avocado price” Colin Irvine (2016) argues that the Australian avocado market is going wild, with shortage of supply and record demand from Avo-hungry consumers driving the price ever higher. In this paper I will analyze Irvin’s article from the viewpoints of Supply and Demand theories of
