| BU224: Microeconomics | |Professor Fassil Fanta |
Supply and Demand
We live in a rough market that is constantly being compared to other countries. Businesses are constantly working with the supply and demand in the markets. They are constantly watching the movement in the curves and how they shift to see if it or how it can benefit them.
In our comparative market, supply and demand is in much more need to businesses. Each business is on a schedule. The schedule tells them which way the curves go and how that factors into their supply. “A shift of the demand curve is a change in the quantity demanded at any given price, represented by the change of the original demand curve to a new position, denoted by a new demand curve (Krugman, 2009).”
“Movement along a demand curve is simply[pic] the...