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supply and demand
Bianca Maria Postiglioni
Created on February 6, 2024
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Transcript
When a market is in equilibrium means that the quantity supplied is equal to the quantity demanded.
Equilibrium is the perfect balance between supply and demand.
Equilibrium
If the line of the graph shifts to the left, the demand is in fall. While, if the line shifts to the right the demand is rising.
If the line of the graph shifts to the left, it means that it is happening a fall in supply. However, if the graph shifts to the right it is happening a rise in supply.
Ansari, S. (2023, December 13). Supply and demand curves explained. Economics Online. https://www.economicsonline.co.uk/competitive_markets/supply-and-demand-curves-explained.html/
Burgers demand graph
Burgers supply graph
The higher the price of an item, the less the demand
Higher price leads to a higher quantity supplied and a lower price leads to a lower quantity supplied.