how equilibrium is found. Describe how a shift of the demand or supply curve can affect equilibrium.

What would cause a change in demand, and a change in supply?

An increase in supply and a decrease in demand occur in a market. What happens to the equilibrium price and quantity?

Which of the following would result in equilibrium shifting from point C to point A? A. There was an increase in income and technology advanced. B. There was a decrease in income and technology advanced. C. There was an increase in the price of a complement and an increase in wages paid by the firms. D. There was a decrease in the price of a complement and an increase in wages paid by the firms. E. There was an increase in the number of buyers but the number of firms remained unchang

If supply is upward sloping, a decrease in demand with no change in supply will lead to a(n) _____ in equilibrium quantity and a(n) _____ in equilibrium price

If both supply and demand decrease, the equilibrium price A) does not change. B) cannot be predicted. C) rises. D) falls.

When the price is above the equilibrium, explain how market forces move the market price to equilibrium. Do the same when the price is below the equilibrium.

By using diagram, show the impact of a shift of demand or supply on the equilibrium point.

When supply and demand meet at the equilibrium point, then prices in the market will

What are some general factors that can impact the demand for a product and the supply of a product? Identify at least two factors for each and explain the different ways these determinants can shift supply and demand either left or right.