If Demand is one the increase, it means that people have surplus income to spare. This is good indicator of economic growth.
prices decrease
Supply will decrease and the price will rise greatly.
demand decreases and price will decrease.
Where the demand curve and supply curve intersect.
surplus
prices decrease
Supply will decrease and the price will rise greatly.
supply will decrease and price will rise greatly
demand decreases and price will decrease.
Where the demand curve and supply curve intersect.
It occurs by more than one method
It occurs by more than one method.
It occurs by more than one method
surplus
Excess demand occurs when demand outweighs supply. This means there is a shortage of a good.
Theory
demand pull theory