Question

There are large intermolecular spaces between particles of liquids. So Why liquids are incompressible? And why they have fixed volume?

Answer 1

Compressibility is the ability of the sustance to change it's shape by applying external pressure.Liquids have very less intermolecular spaces so even they are resistant to external pressure and does not change their shape hence are incompressible.
In liquids particles are not so tightly bound and have spaces in between them and are free to move compared to solids. The intermolecular forces of attraction between the particles are less strong compared to solids hence liquids does have fixed shape but takes the shape of the container in which it is place i.e. it has fixed volume.