What will happen if both the demand for and the supply of a product decrease simultaneously?

Question

Quizplus · Accepted Answer

If both the demand and supply decrease simultaneously, it will result in a decrease in the quantity traded. The decrease in demand means that fewer people are willing to buy the product at any given price, while the decrease in supply means that there are fewer products available at any given price. The combination of these two factors will lead to a decrease in the quantity of the product traded in the market. The price may stay the same or fall depending on how much of the decrease in supply and demand occurred.

What Will Happen If Both the Demand for and the Supply