Economy, asked by Saliq9039, 1 year ago

If at a given price of a commodity quantity demanded of a commodity is
more than its quantity supplied:
(a) Price of the commodity does not change
(b) Price starts falling
(c) Price starts rising

Answers

Answered by anuragtiwari14

Market demand is the demand for a commodity in the market. It is the sum total of individuals demand by all buyers of the commodity in the market. Similar to demand curve, a market demand curve also slopes downwards due to the operation of the law of demand.

Market supply is the sum total of individual supplies by all producers of the commodity in the market. Essentially, is the total supply of the commodity. Similar to a supply curve, a market supply curve also slopes upwards due to the operation of the law of supply.

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