Question

give the meaning of the terms 'market supply' and 'market demand' of a commodity​

Answer 1

Answer:

Market supply is the total amount of an item producers are willing and able to sell at different prices, over a given period of time.

Market demand is the total amount of goods and services that all consumers are willing and able to purchase at a specific price in a marketplace. In other words, it represents how much consumers can and will buy from suppliers at a given price level in a market.

hope it helps you

Answer 2

Answer:

The term supply refers to how much of a certain product, item, commodity, or service suppliers are willing to make available at a particular price. Demand refers to how much of that product, item, commodity, or service consumers are willing and able to purchase at a particular price.