Market Price

As a consumer, I understand the importance of market price. Basically, market price is the determined equilibrium on supply and demand graphs; it means that the market has cleared, or supply has met demand. Before econ, I understood that the price of goods are determined by both buyers and sellers, and in econ I was able to understand how supply, demand, and market price can be represented in a graph, and can pinpoint exactly where the product sold will be the same as the product offered. An example of this is earlier this year, I was looking for jeans while back to school shopping in Old Navy. There was a huge supply of jeans on a shelf, and as I was looking for my own size, I was frustrated to find that they had about 30 pairs of 14s and 16s, a few 18s, and 2 00s. What really angered me was that I've noticed most other girls my age wouldn't be looking for those sizes, but rather all the sizes that were missing, which is understandable if they are sold out because they are in such high demand. But I found it odd that the shelves appeared full, but all the sizes were mixed up and after looking at every pair, I didn't understand why they bought so many pairs of unusual sizes. Therefore, the market price wouldn't clear, because consumers' demand for the jeans was so low already, that they would have to end up reducing the price significantly.