- fundamental market mechanism where price acts as a signal coordinating scarcity and desire
- demand curve: quantity buyers seek at each price level, inversely related to price
- supply curve: quantity sellers offer at each price level, directly related to price
- equilibrium: the price at which supply and demand curves cross, clearing the market
- shifts in either curve (technology, preferences, input costs) move equilibrium price and quantity
- in cybernomics: bandwidth demand and stake-weighted supply form a digital supply-demand system
- price discovery in cyber emerges from cyberlink creation pressure against scarce bandwidth