What happens to prices when supplies of goods and services become plentiful?

When supplies of goods and services become plentiful, prices tend to drop due to the principles of supply and demand in economics. When there is a high supply of a product or service, it means that more of it is available in the market than there are consumers willing to buy it at the previous price levels. As a result, sellers may lower prices in order to attract buyers and sell their excess inventory. This decrease in price often leads to an increase in demand, as consumers are more likely to purchase goods when prices are lower. Consequently, a plentiful supply generally leads to a situation where prices decrease to find an equilibrium that balances the amount supplied with the amount demanded.