Supply and Demand Brochure
By: Alexus Jones
Demand is a desire, willingness, and ability to buy a good or service
For example: Popular shoes.
Demand changes due to the fact that consumers must WANT a good or service, consumers must be willing to purchase it, and consumers need the resources to purchase it.
Supply is the quantities of a good or service that producers are willing to sell at all possible market prices.
Supply can change due to suppliers offering more for sell at higher prices and less for sale at lower prices.
An equilibrium price is the price at which the amount producers are willing to supply is equal to the amount consumers are willing to buy.