simple and proper defination of deamand and supply
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Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. Supply represents how much the market can offer
Or u can also say, the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price
Or u can also say, the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price
sara8:
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demand is the peremptory request or ask something forcefully .
supply is to provide/give something that is needed by someone.
supply is to provide/give something that is needed by someone.
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