What is meant by "The intermolecular space between the constituent particles of liquids is more than that of solids. Hence, they have more compressibility than solids".
Compressibility is defined as the change in the volume of a substance in response to the pressure change. In other words, it is the reduction in volume of a substance when external force is applied.
Now, we know that the spaces between the constituent particles is minimum in solids, higher in liquids and maximum in gases. Thus, when an external pressure is applied the constituent particles of a solid will not move closer to each other as they are are tightly packed. On the other hand, the inter-particle spaces in liquids is higher than in solids. So, on applying some external pressure, the constituent particles in a liquid will move closer to each other, thereby causing a reduction in volume. Thus, liquids are more compressible than solids. However, it is the gases which can be most easily compressed.