According to Oxford Dictionaries

According to Oxford Dictionaries, a product is considered as “an article or substance that is manufactured or refined for sale.” Companies manufacture and refine so many things and sell them at a price that is supposed to be best for the economy. Take the mobile phone for example, an expensive manufactured article that was designed for vehicles in the early 1900’s. Mobile phones were expensive and bulky with very limited range for reception. AT;T was the first to promote the product which overtime grew and became more urbane for todays use. We will discuss the influences of the supply and demand of mobile phones while looking at the equilibrium price and how it expanded.
There is a huge market for mobile phones all over the world and the sales for a mobile phone continued to grow throughout the years but became lower by the 2000s depending on the device you bought. People gave up their land lines for mobile phones because mobile phones was more convenient and cheaper. Texting was another big push for mobile phones since lane lines were not able to do so. People prefer to text now days given the flexibility of sending a message at any time and accessing them when it is convenient (Hartman, 2018). I know texting is very important to people that are shy and attracts those that do not like speaking on the phone. Some modern citizens conduct phone calls at work and texting came in handy because they did not have to worry about speaking loudly and disrupting others. Having the internet at your hands was a big demand especially whenever you need for consumers who wanted to surf the web or conduct business through emails. When the internet came available, watching movies, playing games and camera phones was a huge success on mobile phones. Having a mobile phone with all this at your fingertips made a huge rise in demand for this product.