1. Microeconomics: Law of Supply & Demand

2. Questions
What happens to Supply if prices ?
supply

3. Microeconomics: Law of Supply & Demand
Law of Demand

4. Questions
1. If prices what happens to demand? demand 2. If prices what happens to demand?

5. Law of Supply & Demand combined: Equilibrium

6. Question
What happens to price if demand is greater( ) than supply? Shortage = Prices will_______?
2. What happens to price if demand is less ( )
than supply? Surplus = Prices will ________?