Random Fact
China's real GDP rose 8% this past year. Greece's real GDP fell 6.2% (CIA World Fact Book). |
| Section 7: The Effect of a Change in Demand on Equilibrium Price and Quantity |
 |
 |
 |
| Macroeconomics - Unit 2 | |||
|
An Increase in Demand
Demand changes for any of the six reasons listed in the previous section. Click on the interactive button below to see what happens to the equilibrium price and quantity (the intersection of the curves) when demand increases.
When the demand curve shifts to the right (click next), demand increases. The market price increases, as does the equilibrium quantity (in the short run).
A Decrease in Demand Click on the interactive button below to see what happens to the equilibrium price and quantity (the intersection of the curves) when demand decreases.
When the demand curve shifts to the left (click next), equilibrium price and quantity decreases (in the short run).
|
|||
| Last Updated on Monday, 24 December 2012 10:58 |
