This Independence day, we get our fashion gurus to elucidate on how khadi-a metaphor of patriotism, continues to be the glam garb.his Independence day, we get our fashion gurus to elucidate on how khadi-a metaphor of patriotism, continues to be the glam garb.
â¢ Demand refers to the quantity of a commodity that people are willing to buy at a given price. â¢ Supply refers to the quantity that manufacturers are willing to produce at a given price. â¢ The price of a commodity is a result of pulls and pushes exerted by demand and supply in an economy. Related posts: 1  Difference Between Macroeconomics and Microeconomics.
So, is it supply or demand that determines the market price? The answer is both.. Like the two blades of a scissors, supply and demand work together to determine price. When you combine the supply and demand curves, there is a point where they intersect; this point is called the market equilibrium.