microecon equilib shifts Flashcards by Nana K | Brainscape

Q

draw + explain what has happened if theres an increase in population

A

demand shifts right
qd increases

new equilb of

higher price

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Q

draw + explain whaats happened if increase in productivity of workers

A

supply increases

shift right

quantity demanded increase

lower price

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Q

draw + explain what happened if increase in interst rates for a house company

A

demand shift left

qd decreases

lower price

new equilib

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Q

draw + explain what happens when increase in price of oil

A

supply shifts left

quantity demanded increases

higher price

new equilib

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