Demand refers to the quantity which the consumer is willing to buy at the prevailing price and supply refers to the quantity which the producer is willing to sell at the current price. There is a negative relation between demand and price of a commodity while the in case of supply, price is directly related to the supply of a commodity. However, when the market price is above the equilibrium, the supply would be more than demand. At the same time, if the price is below the equilibrium price then demand would be more than supply. But at the equilibrium price, both demand and supply are equal.