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State the difference between demand and supply.

Economics

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here are the answers for Question 9 and Question 10:

Question 9:
The aid to trade which gives security cover to businesses when they lose money through any accidents is insurance.

Insurance\boxed{\text{Insurance}}

Question 10:

  • Demand refers to the quantity of a good or service that consumers are willing and able to purchase at various prices. It represents the buyer's side of the market.
  • Supply refers to the quantity of a good or service that producers are willing and able to offer for sale at various prices. It represents the seller's side of the market.
Demand is what buyers want to purchase; supply is what sellers want to offer.\boxed{\text{Demand is what buyers want to purchase; supply is what sellers want to offer.}}
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