Demand supply

The quantity demanded of any good is the amount of the The quantity supplied of any good is the amount that
good that buyers are willing and able to purchase. sellers are willing and able to sell.

Low of demand: the claim the quantity demanded of a Law of supply: the claim that the quantity
good fall when the price of the good rises. supplied of a good rise when the price of the
good rises.

 When the price changes, we move along the  When the price changes, we move along the
curve curve

Demand schedule: a table that shows the Supply schedule: A table that shows the
relationship between relationship between
the price of a good and the quantity demanded. the price of a good and the quantity supplied.

Demand curve shifters Supply Curve Shifters

1. Number of Buyers
1. Input prices
2. Income
2. Technology
3. Prices of related goods
3. Numbers of sellers
4. Tastes
4. Expectations
5. Expectation