Supply is the the amount of product people would sell and what price they would sell if for so people can buy it.
Demand is what the people decide to buy from the sellers and what they are willing to pay for that product.
Something interesting i read from the oil quiz is that there is a lot of countries in the world who produce oil but some of the countries have less oil than others. Something surprising from the oil quiz is that i got 4 questions correct and 8 wrong. I also found it surprising that the worlds oil production cant seem to increase until 2030.
Demand is what the people decide to buy from the sellers and what they are willing to pay for that product.
Something interesting i read from the oil quiz is that there is a lot of countries in the world who produce oil but some of the countries have less oil than others. Something surprising from the oil quiz is that i got 4 questions correct and 8 wrong. I also found it surprising that the worlds oil production cant seem to increase until 2030.
SOURCE: Greenzer
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