For example, the graph would reflect the correlation between demand and the price of products, or in the case of supply, the products supplied and their price. Additionally, supply, demand, and price can be graphed and analyzed, along with the elasticity of supply. This particular method of data tracking and analysis is essential for identifying the state of the markets and determining the best plausible path (Skousen, 2014). By studying supply and demand you are also able to identify whether there is an excess or deficiency in demand or supply or whether an equilibrium has been reached. As a result, it is evident that supply and demand take part in the market economy and greatly influence and influence the price value. Furthermore, to express the impact of supply and demand on the price value, the price value of airline tickets will be used