According to Oxford Dictionaries

According to Oxford Dictionaries, a product is considered as “an article or substance that is manufactured or refined for sale.” Currently we manufacture and refine so many things and sell them at a price that is supposed to 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 the product while looking at the equilibrium price and how it expanded.