Business Article No. 1Principles of Economics I - MacroKristin Mulet9/26/2016ArticleThe Economist In a hole; Slumping commoditiesSummary Supply and demand is changing each and every day. While the supply and demand for some goods and services have rather small, unnoticeable changes, there are other industries that are being changed drastically every day. The mining industry is one of the many industries that has extremely noticeable changes. Not only is supply and demand changing, people’s preferences and needs are changing as well. While hundreds of years ago people needed things like coal and copper, today people want things like computers and clothing. These many changes have greatly influenced and changed the supply and demand within the mining industry.There has been a very large drop in prices in the mining industry throughout the entire world. This drop is a direct result of a drop in demand for goods and services created by the mining industry.