Why do prices increase when demand for a product is high?

Answer: Because everybody wants it

Step-by-step explanation:The prices increase when the demand of a product is high because everybody wants it so the store will get more money if everybody

Answer:When demand exceeds supply, prices tend to rise ... If there is a decrease in supply of goods and services while demand remains the same, prices tend to rise to a higher equilibrium price and a lower quantity of goods and services. The same inverse relationship holds for the demand for goods and services.