Who created the supply and demand model in economics or when was it first used?
"If desire for goods increases while its availability decreases, its price rises. On the other hand, if availability of the good increases and the desire for it decreases, the price comes down."
Antoine Augustin Cournot first developed a mathematical model of supply and demand in his 1838 Researches into the Mathematical Principles of Wealth, including diagrams. However, John Locke (1691), Adam Smith (1776) and David Ricardo (1817) also used this model.