Essay Available:
Pages:
1 page/β275 words
Sources:
No Sources
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Other (Not Listed)
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 4.68
Topic:
Economic Equilibrium and Accounting
Other (Not Listed) Instructions:
Answer the question and give the graphs. You can draw it on paper and take pictures. All in 1 page.
I Distinguish between a change in the quant,ty demand«) and a sliifl in demand Explain and use graphs to demonstrate this concept 1»
2. Distinguish between a ehange in quantity supplied!^,Supply Explain and use graphs to demonstrate this concept.
4 Explain lnclaslic Demand Explain Elastic Demand Use graphs and real world examples to support your explanation
5 Explain by using you, knowledge of supply and demand how the Federal Resewc ....... ra.es to nse and fall Use graphs to explam
6. Explain and demonstrate by using a graph the concept of a pnee ceding7. Explain and demonstrate by using a graph the concept of a price floor.
Other (Not Listed) Sample Content Preview:
ECONOMIC
Name
Course
Date
1. Change in quantity demanded is movement along a fixed demand curve, while shift in demand is a change in demand . A right ward shift in the demand curve is an increase in demand because of other factors other than price.
Change in quantity demanded
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Price
D
D
Quantity
Shift in demand
600075-5715012287253714751819275171450704850561975169545036195021050257334251247775742950165735011430006381751885950
Price
D
D
Quantity
2. Change in quantity supplied is the movement along a fixed supply curve, while shift in supply is the change in the quantity supplied at every price.
Shift in supply
600075-666756191252066925838200276225647700-38100118110058102522383756381751495425112395010668007810501809750285750
S
Price
S
Quantity
Change in quantity supplied
600075-571506191251876425685800390525164782555245011049001066800
Price
S
S
Quantity
3). Equilibrium price is the price at which the demand curve intersects with the supply curve
And when there is shift in the demand of supply curve there is a new equilibrium price. When the price is set above the equilibrium price, there is a decrease in the quantity of goods demanded and the suppliers increase supply hoping to sell at a higher price. There is over supply, and since fewer buyers purchase products the sellers are forced to cut back the price. When the price is set below the equilibrium price the quantity demanded is higher than the quantity supplied and this causes scarcity of the product.
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S
Price
D
P1
...
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