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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: Dan Laub
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This lesson covers the impact of price on quantity supplied/demanded.

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Tutorial

Notes for "Impact of Price on Quantity Supplied/Quantity 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.