What is demand? Demand occurs when someone is willing and able to buy a product.

The demand curve Price

Quantity How is the market price for a good or service determined? Its determined when quantity demanded equals quantity supplied.

Demand Curve Shiftings D

Price 1

The demand curve shifted to the right indicating an increase in the demand. As a result, quantity increased from Q to Q2 and Price increased from P to P2.

In case of demand shifting to the left, it will indicate a decrease in the demand. As a result, quantity decreased from Q to Q2 and price decreased from P to P2. Supply curve shiftings Draw two supply curves like above in demand. 1) Supply curve shifts to the right. This indicates an increase in the supply. As a result, quantity increase from Q to Q2 and Price decreased from P to P2. 2) Supply curve shifts to the left. This indicates a decrease supply. As a result, quantity decreased from Q to Q2 and Price increased from P to P1.