Question

While supply is based on the willingness of producers to supply a good or service, demand is MOST LIKELY based on

Answer 1

If demand is focus more on the consumer purchases, then the supply is most likely and will likely base on the willingness of the consumers to purchase a product, because the supply is more on having to provide the goods that consumers will purchase.

Answer 2

The demand is based on the preferences and purchasing posibilities of consumers.

The demand-side of the market represents the amounts of a certain product that consumers would be willing to purchase at different price levels. That willingness is determined by the preferences, in other words, the type of goods that each consumer desires to satisfy his/her needs and secondly, the personal income. It is possible that a person desires a product but is not able to afford it. So both features influence the quantities demanded at different price values and, therefore, the demand side of the market.