Bringing Supply and Demand Together


The eight possible changes in demand and/or supply are presented, along with the resulting changes in equilibrium price and equilibrium quantity



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Bringing demand and supply together

The eight possible changes in demand and/or supply are presented, along with the resulting changes in equilibrium price and equilibrium quantity.

  • The eight possible changes in demand and/or supply are presented, along with the resulting changes in equilibrium price and equilibrium quantity.

How is it possible that the price of college education has risen over the last 35 years, yet many more students are attending college?

  • How is it possible that the price of college education has risen over the last 35 years, yet many more students are attending college?
  • Does this defy the law of demand?
  • The answer is that demand and supply are changing—demand is increasing and supply is decreasing (costs are rising—maintenance, new equipment, buildings and so on).

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