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There is a composition of supply and demand, in that factories do run out of components, and will even put out orders for components in order to continue to produce the goods that they do.
NPC ships, would be your "player" traders, warping in to either sell or buy those components from the stations (Yes, they -actually- have a cargo, carrying the goods, and the goods do get exchanged).
It is set up in a way so that if there is heavy trading in an area (particularly on your part), trade value will decrease as things get to where they need to be more often, along with capacities being met. If things don't get bought enough, things will pile up and nothing can be sold, where on the flip side, if things get sold out too quickly, stations will hit bottlenecks trying to produce goods without the required components.
Despite a large portion of the trade being done by NPC generated ships, there is surprisingly a lot of demand in some areas, whereas there's overstock in others. That would be where you would be finding routes to purchase goods from one area of the galaxy, to deliver them to another to make the right profits.
Additionally, there are a lot of trade goods that act as components for crafting weaponry, so it's useful to sell components to factories that produce those goods, so you can purchase those components to craft your own weaponry.
Lastly. You are able to craft all those factories yourself, given you have the right amount of resources and money to sustain them. That way, you can make your own lines for crafting, as well as have the same npc ships interact with your stations the same way they interact with theirs (trading and selling, from supply and demand).
The only downfall is the "living" part of it. The npc ships that warp in to do trades are generated there, rather than pulling the goods from some other station in another system. This is offset though by the fact that npc traders who warp in to purchase goods, will warp off into oblivion, rather than delivering them to another station. It's not "alive" and fully compliant, but it emulates it decently with the processing capacity of a normal computer.
There is another game which is a lot like eve online but single player. It's called Asrtox Imperium.
Interesting how do you compare this game and Astrox?
The OP asked if this game is like EVE online which it's not even close. So I decided to direct him toward another game which is more along the lines of his question.
Keyword being EVE online.