The supply and demand "law" refers to the observation that the price of a good settles at a point where the available supply (which increases as the price goes up) matches the demand (which decreases as the price goes up).
Jevons Paradox is only tangentially related. It is based on the observation that sometimes using a resource more efficiently results in higher overall consumption. For example, say 40 kg of lithium is needed for the batteries of an electric car. At some point, 4000 tonnes are produced annually, enough for 100,000 electric cars per year.
Now a new battery comes on the market that needs only 20 kg of lithium. Should the lithium producers be worried that the lithium demand will drop, since only 2000 t will be needed for the 100,000 electric cars? Maybe. But if Jevons Paradox comes into play, the annual production of electric cars might triple as their cost drops due to lower lithium usage, and the new demand will then settle at 6000 tpa. So, paradoxically, reducing the amount of lithium in each battery could be good news for lithium producers.
Whether or not Jevons Paradox occurs depends on the elasticity of supply-demand curves, in this case the curves for lithium and for electric cars.
Not to mention that reducing the cost of batteries may lead to new classes of devices suddenly making sense as battery-powered (instead of corded or gasoline-powered), leading to increased demand for batteries.
Jevons Paradox is only tangentially related. It is based on the observation that sometimes using a resource more efficiently results in higher overall consumption. For example, say 40 kg of lithium is needed for the batteries of an electric car. At some point, 4000 tonnes are produced annually, enough for 100,000 electric cars per year. Now a new battery comes on the market that needs only 20 kg of lithium. Should the lithium producers be worried that the lithium demand will drop, since only 2000 t will be needed for the 100,000 electric cars? Maybe. But if Jevons Paradox comes into play, the annual production of electric cars might triple as their cost drops due to lower lithium usage, and the new demand will then settle at 6000 tpa. So, paradoxically, reducing the amount of lithium in each battery could be good news for lithium producers.
Whether or not Jevons Paradox occurs depends on the elasticity of supply-demand curves, in this case the curves for lithium and for electric cars.