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Transcript 
2
SUPPLY AND DEMAND I: HOW MARKETS WORK
The Market Forces of
Supply and Demand
Copyright © 2004 South-Western
4
Figure 1 Catherine’s Demand Schedule and
Demand Curve
Copyright © 2004 South-Western
Figure 2 Market Demand as the Sum of Individual
Demands
Copyright © 2004 South-Western
Figure 3 Shifts in the Demand Curve
Copyright © 2004 South-Western
Table 1 Variables That Influence Buyers
Copyright©2004 South-Western
Figure 4 Shifts in the Demand Curve versus
Movements along the Demand Curve
Copyright © 2004 South-Western
Figure 5 Ben’s Supply Schedule and Supply Curve
Copyright © 2004 South-Western
Figure 6 Market Supply as the Sum of Individual
Supplies
Copyright © 2004 South-Western
Figure 6 Market Supply as the Sum of Individual
Supplies
Copyright © 2004 South-Western
Figure 7 Shifts in the Supply Curve
Copyright © 2004 South-Western
Table 2 Variables That Influence Sellers
Copyright©2004 South-Western
Figure 8 The Equilibrium of Supply and Demand
Copyright © 2004 South-Western
Figure 9 Markets Not in Equilibrium
Copyright © 2004 South-Western
Table 3 The Three-Step Program for Analyzing
Changes in Equilibrium
Copyright©2004 South-Western
Figure 10 How an Increase in Demand Affects the
Equilibrium
Copyright © 2004 South-Western
Figure 11 How a Decrease in Supply Affects the
Equilibrium
Copyright © 2004 South-Western
Figure 12 A Shift in Both Supply and Demand
Copyright © 2004 South-Western
Table 4 What Happens to Price and Quantity
When Supply or Demand Shifts?
Copyright©2004 South-Western
Copyright©2004 South-Western
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