Supply and Demand

Supply shifts rightward resulting in a lower equilibrium price but higher quantity.

Demand shifts rightward leading to a higher equilibrium price and quantity.

Demand shifts leftward causing both equilibrium price and quantity to decrease.

Supply shifts leftwards resulting in an increased equilibrium price but decreased quantity.

When the market is in a state of perfect balance

When the price is at its highest point in the market

When the quantity demanded is less than the quantity supplied

When the quantity demanded does not equal the quantity supplied

Price paid by buyers increases and quantity exchanged decreases.

Supply curve shifts rightward causing an excess supply at original equilibrium price.

The quantity demanded significantly increases due to buyer competition for limited supply.

Price received by sellers decreases but quantity exchanged remains constant.

There is no change in market conditions or equilibrium quantity sold.

Demand increases due to the higher perceived value of the product.

Surpluses may occur because the higher price reduces quantity demanded.

Shortages occur because demand exceeds supply at that price level.

Increased taxes to fund the production of military equipment.

The total amount of money spent on military equipment.

The goods and services that could have been produced instead.

The decrease in the production of consumer electronics.

Price increases

Price becomes indeterminate

Price remains unchanged

Price decreases

Shortage

Surplus

Market equilibrium

Market disequilibrium

Price of the first product rises, but no significant change is observed in the second, indicating zero or negative cross-price elasticity between them.

Price of the first product rises, leading consumers to switch to the other, increasing the latter's demand, reflecting a positive cross-price elasticity.

Increased costs lead to lower output of the first commodity, consequently reducing its substitute's value, despite positive or negative cross-price elasticities involved.

A production cost hike causes a decline in both goods' prices, showing an inverse relationship in their cross-price elasticities.

The price will increase, but the quantity sold will remain unchanged.

The price will decrease, and the quantity sold will fall.

The price will remain unchanged, but the quantity sold will rise.

The price will increase, and the quantity sold will rise.

There is no effect on unemployment but there's an increase in job applications.

Full employment is achieved by ensuring that everyone who wants work can find it at fair wages.

Unemployment increases as employers hire fewer workers at higher wages.

Unemployment decreases because workers earn higher incomes.