Difference Between Demand And Supply

Difference Between Demand And Supply

The main dissimilarities or difference between demand and supply can be highlighted as follows:

1. Introduction

Demand: Quantity of product desired by buyers with willingness and ability to pay a certain price.

Supply: Quantity of certain product or service provided in the market (ready to exchange) by producers or suppliers.

2. Made By

Demand: It is made by buyers

Supply: It is made by producers or sellers

3. Relationship With Price

Demand: It has indirect relationship with price. It means if the price of product increases then demand decreases and if price decreases then demand increases.

Supply: It has direct relationship with price. it means if price increases then supply will increase and if price decreases, supply will also decrease.

    Also Read: 

Difference Between Desire And Demand

4. Inverse Relation

Demand: It increases if supply decreases

Supply: It increases if demand decreases

5. Demand And Supply Curve

Demand: Slopes downward

Supply: Slopes upward

Demand Vs Supply (Comparison Chart)

Basis For Difference	Demand	Supply
Introduction	Quantity of certain product desired by buyers	Quantity of products provided in the market
Made By	Buyers/Customers	Producers/Traders
Relationship With Price	Indirect	Direct
Inverse Relation	Increases if supply decreases	Increases if demand decreases
Curve Slopes	Downward	Upward

I hole this post is helpful to understand the difference between demand and supply and to make comparison between them.