1. MARKET EQUILIBRIUM Quantity Price Quantity Price

2.   Market Equilibrium is when the quantity demanded and the quantity supplied at a particular price are EQUAL.   Equilibrium Price is the price at which the quantity demanded and the quantity supplied are equal.

3. Price per Slice Quantity Demand Quantity Supplied $5.001050 $4.002040 $3.0030 $2.004020 $1.005010 0 Quantity Price 10 20 4050 30 $1 $3 $4 $2 $5 $6 60

4.   A SURPLUS is when the quantity supplied is greater than the quantity demanded.

5. Quantity Price

6.   A SHORTAGE is the result of quantity demanded is greater than quantity supplied.

7. Quantity Price

8.   If neither a shortage or surplus exists, then the market is at equilibrium!

9.   Market Disequilibrium is when quantity demanded and quantity supplied are NOT in balance.   Equilibrium again is when quantity demanded and quantity supplied ARE in balance.

10.   When demand decreases, equilibrium price goes _____________   When demand increases, equilibrium price goes _____________ 0 Quantity Price 10 20 4050 30 $1 $3 $4 $2 $5 $6 60

11.   When supply decreases, equilibrium price goes _____________   When supply increases, equilibrium price goes _______________ 0 Quantity Price 10 20 4050 30 $1 $3 $4 $2 $5 $6 60

12.   The time period between the change in demand and change in equilibrium price is known as DISEQUILIBRIUM http://education-portal.com/academy/lesson/how-changes-in-supply- and-demand-affect-market-equilibrium.html

13. If demand decreases OR Supply increases THEN If demand increases OR Supply decreases THEN http://www.youtube.com/watch?v=2YyJWEzY0vo Supply and Demand Review video: