Explain the difference between demand and supply.

Question

Quizplus · Accepted Answer

The Answer is Demand is the willingness and ability of buyers to purchase goods and services at different prices.Factors that drive demand for a good or service include customer preferences,the number of buyers and their incomes,the prices of substitute goods,the prices of complementary goods,and consumer expectations about the future.Supply is the willingness and ability of businesses to offer products for sale at different prices.Supply is determined by the cost of inputs and technology resources,taxes,and the number of suppliers operating in the market.

Explain the Difference Between Demand and Supply