Changes+in+Demand+AP+MICE

=Changes in Demand=

Table of Contents

 * ======Rise in Demand======
 * ====== Fall in Demand ======
 * ====== Equilibrium ======
 * ====== Equilibrium price ======
 * ====== Equilibrium Quantity ======
 * ====== ﻿ Shift along the curve ======

"Demand" in Economics is characterized as the material needs and desires of a product from the population. Demand may change over time as the population formulates new needs, as the amount of resources available (supply) rises or falls, as the price of a product changes, as technology changes, etc.--it is not a constant variable, but is dependent on other factors.

Shifts in the demand curves
When a rise in demand occurs, the curve shifts to the right, causing an increase in equilibrium quantity and equilibrium price.

When a fall in demand occurs, the curve shifts to the left, causing a decrease in equilibrium quantity and equilibrium price.



Shift along the curve
When there is a shift along the curve, there in a change in quanity demanded , not demand. A shift along the curve only when there is a price increase or decrease. For example if the price of milk rose, there would be a decrease in the quantity demanded, not demand if you were graphing the milk market.