Dhingra's Law is a principle in the field of economics that suggests that the price of a good or service is determined by the balance between supply and demand. When demand for a product increases and supply remains constant, prices tend to rise. Conversely, if supply increases while demand stays the same, prices may fall. This law helps explain market behavior and can be applied to various sectors, including real estate, consumer goods, and labor markets. Understanding Dhingra's Law can assist businesses and consumers in making informed decisions based on market trends.