What is the relationship between supply and demand one the one hand and price on the other.

The relationship between these things is that supply and
demand work together to determine the price of a good or service.  This will happen
unless there is some sort of government intervention that prevents the price from moving
according to supply and demand.

In general, there is an
inverse relationship between the supply of a good or service and its price.  That is,
when the supply of a good goes up, its price goes down.  This relationship assumes that
all other factors (including demand) do not change.

Demand
works the other way -- it has a direct relationship with price.  When demand increases
(all other things being equal) price increases.

If both
supply and demand move at the same time, then the impact on price will depend on which
way the two move and how much they move in comparison to one another.  For example,
large increase in supply coupled with a small increase in demand will still lead to a
drop in price.

As the demand and supply of a good or
service increase and decrease, the price of that product changes as well.  In this way,
supply and demand determine what the price of that product will
be.