The Law of Demand and Supply
3 minutes read.
Imagine you enjoy canoeing so much that you go at least four times every summer. The initial price was £40 per ride. However, you decide to book a slot for next summer and realize that the price has increased to £80.
What will you do?
According to the law of demand, if the price of canoeing increases, you are likely to either reduce the number of times you go canoeing or potentially stop canoeing altogether because higher prices lead to lower demand.
"The law of demand holds that demand for a product changes inversely to its price when all else is equal." (Fernando, 2023)
Suppose you own a canoeing company, and you notice that the market price has increased from £40 to £80.
What will you do?
According to the law of supply, you would want to offer more services because a price increase typically leads to higher potential revenue.
"The law of supply relates price changes for a product to the quantity supplied. The higher the price, the higher the quantity supplied." (Fernando, 2023)
Although the law of demand and supply is just a model used to represent human behavior, it illustrates how price, quantity, and other economic factors act as signals that influence our daily decisions, highlighting the uncertainty in our choices.
Fortunately, we won’t be discussing the conventional law of demand and supply; instead, we’ll be exploring the biblical perspective on demand and supply.
Throughout the Bible, we see how God supplies demands.
In Genesis 1 alone, the phrase “Let there be… and there was” appears eight times, illustrating how God supplies His own demands.
Guess what, He also supplies our demands.
He can do these because He is Jehovah Jireh- God our provider (Genesis 22:14).
A blank cheque is offered to us in Matthew 7:7-8, where Jesus himself said we should,
“Ask, and it shall be given unto us; seek, and we shall find; knock, and it shall be opened unto us. For everyone that asks receives, and he that seeks finds; and to him that knocks it shall be opened.”
There are so many places in the Bible where He says that He will supply our demands if we seek him (Philippians 4:19).
Please note that the supply I’m referring to does not necessarily mean material riches, although it may include them. Additionally, God is not a genie; He doesn’t simply grant all your wishes.- He gives you what He knows you need.
He is a loving Father, and even before you ask He knows what you need (Matthew 6:8).
Now, you may wonder, if He knows what I need why doesn’t he just give it to me anyway?
He wants us to ask first.
In this kingdom, before there is a supply (answer), you must first make a demand by asking God.
In the book of Nehemiah, the Israelites sinned greatly against God, as a result, the wall of Jerusalem had been torn down and the gates were destroyed by fire. Nehemiah the prophet called upon God and asked for mercy. He asked God to grant him favor before the King, which he did. Because Nehemiah sought the Lord, the walls of Jerusalem were rebuilt, exiles returned to a secured city, and the people recommitted to God's law (The Book of Nehemiah).
God does care about you and is interested in your well-being (3 John 2:2).
Jesus tells us in Matthew 6:28-30,
"And why are you anxious about clothing? Consider the lilies of the field, how they grow: they neither toil nor spin, yet I tell you, even Solomon in all his glory was not arrayed like one of these. But if God so clothes the grass of the field, which today is alive and tomorrow is thrown into the oven, will he not much more clothe you, O you of little faith?"
He further says in Matthew 7: 9-11,
“Which of you, if your son asks for bread, will give him a stone? Or if he asks for a fish, will give him a snake? If you, then, though you are evil, know how to give good gifts to your children, how much more will your Father in heaven give good gifts to those who ask him!"
You have to ask.
No, your problems are not too big or small for Him (Ephesians 3:20 and Psalm 33:6).
No, He doesn’t get angry or annoyed when we seek help (Psalm 51:17).
Yes, He encourages you to ask (Matthew 7:7-8).
We were not made to figure out life on our own.
Contrary to the secular view, in this kingdom, the more dependent you are on God, the higher you will go.
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Bibliography
Bible Gateway (1993) Bible Gateway. Available at: https://www.biblegateway.com/.
Fernando, J. (2023). Law of supply and demand. Available at: https://www.investopedia.com/terms/l/law-of-supply-demand.asp
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