Big swings in the wholesale price of electricity are not unusual in the summer, when high demand taxes generators' ability to supply power.

As the Nasdaq soared in 1999 and early 2000, demand for many offerings far exceeded the supply of shares available at the initial offering price.

To economists, prices serve as crucial signals to producers and consumers. In a regulated market, the state sets prices high enough for private companies to cover their costs and earn a guaranteed profit for their investors. But in a deregulated market, prices should vary with demand and supply.

Macroeconomics is the analysis of the economy as a whole, an examination of overall supply and demand. At the broadest level, macroeconomists want to understand why some countries grow faster than others and which government policies can help growth.

Of course, demand was very high, and demand outstripped supply,

The price of ability does not depend on merit, but on supply and demand.