What is the relationship between demand and supply in agriculture?

Agricultural Science

JAMB 2023

A. Demand in agriculture is independent of supply
B. Demand and supply in agriculture are interdependent
C. Supply in agriculture is determined solely by demand
D. Demand and supply in agriculture are unrelated

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Correct Answer: Option B

Explanation

In agriculture, demand and supply are interdependent factors. Demand refers to the quantity of agricultural products that consumers are willing and able to purchase at a given price. Supply, on the other hand, refers to the quantity of agricultural products that producers are willing and able to offer for sale at a given price. The relationship between demand and supply is often represented by the concept of market equilibrium.

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