Post on 15-Jul-2015
transcript
https://flic.kr/p/mUGBwy
Demand The quantity of goods or services that consumers are
willing and able to buy.
https://flic.kr/p/oBTUVy
Supply The quantity of goods or services that businesses are
willing and able to provide.
Law of Supply As the price of a good decreases, the supply of that
good will decrease.
https://flic.kr/p/pTUmqq
Law of Demand
As the price of a good decreases, the demand of
that good will increase.
https://flic.kr/p/pTUmqq
Equilibrium Where the
two curves
meet, is the
equilibrium
point.
https://flic.kr/p/pTUmqq
Quantity
Pri
ce
Surplus When there is
more supply,
than quantity
demanded, a
surplus is
created.
https://flic.kr/p/pTUmqq
Quantity
Pri
ce