What do you mean by demand and supply

1.	What do you mean by demand and supply
Answer» Demand is the quantity of a commodity which a person is willing and able to buy at each reasonable price during a particular time period....Supply is the quantity of a commodity a person is willing and able to sold at each poosible price during a particular time period....<br>Supply\xa0and\xa0demand, in economics, relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy. ... The resulting price is referred to as the equilibrium price and represents an agreement between producers and consumers of the good.\xa0Supply\xa0refers to the amount of goods that are available.\xa0Demand\xa0refers to how many people want those goods. When\xa0supply\xa0of a product goes up, the price of a product goes down and\xa0demand\xa0for the product can rise because it costs loss. At some point, too much of a\xa0demand\xa0for the product will cause the\xa0supply\xa0to diminish.

Discussion