Demand and Supply

       Supply is the total amount of a given product that the producer is willing and ready to sell it for a particular price assuming that all other factors constant. Therefore, supply signifies the amount of goods that a certain market can provide.

Demand, on the other hand, refers to the amount of certain product or service desired by buyers. The amount demanded of a product is the quantity of a certain product that consumers are ready to purchase at a given price ( Rios, McConnell & Brue, 2013). There is a relationship between the amount of a product demanded and the price of the product.