Assalamualaikum and hi.

My name is Ahmad irfan and today I am going to talk about demand and
supply.

So what is demand?

Demand is the desire that a consumer have for a good or services.

The more people want a good or service the higher the demand for it.

For example, apple just launch the new Iphone 12 and many people wants to buy it. Therefore the
demand for the product are high.

Moving on to supply

Supply is the total amount of good or service that are available for consumption.

The higher the amount of good or service produce and may be consume by the consumer, the larger the
supply will be

For example, Apple produce millions set of Iphone across the world, so the supply is high.

Demand and supply have impact on each other.

Imagine if many people wanted to buy iphone but Apple only has a limited amount of the product. We
could see that demand are higher than supply.

In this case, Apply can increase the price of the Iphone because many people are willing to pay to get
the product. By doing this, some of the consumer will decide to leave from getting the iphone because
they are unwilling to pay for it. Therefore the demand and supply will be balance.

Same goes for supply.

If Apple have a lot of iphone product that has not been sold, they will drop the price and consumer will
look for it when the price are dropping.

We could see that demand and supply are important in our live because we need it to fulfill our daily
needs.

That is all from me thank you