Supply and Demand
By: Cierra Bryant

Demand- The desire, willingness, and ability to buy a good or service.

Demand changes because of consumers' income and prices change.

Supply- the quantities of a good or service that producers are willing to sell at all possible market prices.

Supply changes because producers of a good or service changes the quantity available for purchase and prices change.

Equilibrium Price- the price at which the amount producers are willing to supply is equal to the amount consumers are willing to buy.

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