You're right to say it's mostly oversimplifications. The fallacy was the first economic concept introduced in the article-- > The first is still more or less t

You're right to say it's mostly oversimplifications. The fallacy was the first economic concept introduced in the article-- > The first is still more or less true today: as demand for a product goes up, supply increases, and price goes down. Classic econ teaches as demand increases, prices go up. The exception is if the supply curve is flat (for instance, 0 marginal cost).