Question

3. Explain the terms 'demand' and 'supply' with an example from our daily life.​

Answer 1

Answer: Demand is the amount of anything required by the population of any place,or a country. supply is the amount that is produved by an industry/ source. ... in our day to day lives, we find that water level and its supply is decreasing, whereas the demand is increasing.

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Answer 2

Answer:

answered before

Explanation:

Supply refers to the amount of goods that are available. Demand refers to how many people want those goods. When supply of a product goes up, the price of a product goes down and demand for the product can rise because it costs loss.