Supply and Demand

The Market ,[object Object],[object Object],[object Object],[object Object],[object Object]

Demand ,[object Object],[object Object],[object Object],[object Object]

Demand Schedule and Curve ,[object Object],[object Object],Quantity Price

Demand For 90% 100 1 60 3 40 4 20 7 15 11 5 13 1 17 0 26 Price Quantity

Demand Determinants ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Demand Determinants ,[object Object],[object Object],[object Object],[object Object],[object Object]

Demand vs. Quantity Demanded ,[object Object],[object Object]

Changes in Demand ,[object Object],[object Object]

Supply ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Quantity Price

Supply of 90% 150 25 100 19 50 12 35 8 30 7 20 5 10 2 5 1 0 0 Price Quantity

Supply Determinants ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Supply Determinants ,[object Object],[object Object],[object Object],[object Object]

Supply vs. Quantity Supplied ,[object Object],[object Object]

Changes in Supply ,[object Object],[object Object]

Demand and Supply Equilibrium Point

Market Equilibrium ,[object Object]

Shortages Shortage New Price Quantity Supplied Quantity Demanded

Shortage ,[object Object],[object Object],[object Object]

Surpluses Surplus New Price Quantity Supplied Quantity Demanded

Surplus ,[object Object],[object Object],[object Object]

Equilibrium Point and Changes in Determinants ,[object Object],[object Object]

Example: Increase in Demand Quantity Price D 1 D 2 S 1

Example: Decrease in Demand Quantity Price D 1 D 2 S 1

Example: Increase in Supply Quantity Price D 1 S 1 S 2

Example: Decrease in Supply Quantity Price D 1 S 1 S 2

Complete the following chart Increase Increase Decrease Increase Decrease Decrease Decrease Increase Decrease in Supply Increase in Supply Decrease in Demand Increase in Demand Change in Equilibrium Quantity Change in Equilibrium Price

Changes in Market Equilibrium ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Supply and Demand

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Supply and Demand