In economics, supply and demand describe market relations between
prospective sellers and buyers of a good. The supply and demand model
determines price and quantity sold in the market. The model is fundamental
in microeconomic analysis of buyers and sellers and of their interactions in
a market. It is also used as a point of departure for other economic
models
and theories. The model predicts that in a competitive market, price will
function to equalize the quantity demanded by consumers and the quantity
supplied by producers, resulting in an economic equilibrium of price and
quantity. The model incorporates other factors changing such equilibrium as
reflected in a shift of demand or supply.
From: Wikipedia
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SUPPLY
AND DEMAND