supply and demand curves

• demand curve - downwards sloping

  supply curve - upwards sloping
• equilibrium price is where supply=demand (supply curve intersects demand curve)
• where is equilibrium price (picture)

  
• supply and demand curve for..

  • (a) successful advertising campaign by apple
  • (b) increase in income
  • demand increases, shifts demand right from d to d2
  • shift in demand, causes an increase in price from p1 to p2
  • price increase, leads to an extension in quantity supplied from q1 to q2

  
• show demand and supply curve for..

  • (a) increased prodcution costs
  • increase in costs, means less profit at each price than before, meaning less willing to supply
  • supply decreases and shifts to the left, from s to s1
  • decreased supply, means prices increases. but at this price, consumers are less able and willing to buy the product
  • this means demand will contract, and quantity bought will decrease

  
• supply and demand curve for sanyo, if employees strike

  • decreases supply as less employees are working
  • shifts supply to the left from s to s1
  • increases the price, therefore causing a contraction in demand
  • meaning quantity decreases from q1 to q2

  
• supply and demand curve for improved technology

  • production can operate quicker, increasing supply
  • supply shifts right from s1 to s
  • this decreases the price from p1 to p2, causing an extension in demand
  • this increases quantity from q1 to q2