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3 Tutorials that teach Impact of Price on Quantity Supplied/Demanded
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Impact of Price on Quantity Supplied/Demanded

Impact of Price on Quantity Supplied/Demanded

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Author: Colton Cranston
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This lesson covers the impact of price on quantity supplied/demanded.

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Tutorial

Notes on "Impact of Price on Quantity Supplied/Demanded"

Key Terms

Law of Supply

If the price of a good decreases, the quantity supplied decreases.

Law of Demand

The inverse correlation between price and quantity with all other variables fixed.

Equilibrium

The price and quantity pair at which supply and demand intersect; price and quantity at which the market clears.