Demand is the quantity of a good or service that costumers are willing and able to porchase at a given price in a given time period.
The law of Demand states that if the price of a product falls, the quantity will usually increase and if the price of a product rises, the quantity will usually decrease.
Suppy is abiliby of producers to produce a quantity of a good or service at a given price in a given time period.
The law of Supply states that if the price of a goods rises, the quantity supplied of the product will usually increase and if the price of a good falls, the quantity supplied of the product will usually decrease.
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