What is the reason(s) that causes a movement along a fixed demand curve (also called a change in quantity demanded)? What would cause a shift in the demand curve (also called a change in demand)? 2-What are the reason (s) that cause a movement along a fixed supply curve (also called a change in quantity supplied)? What would cause a shift in the supply curve (also called a change in supply)?

What is the reason(s) that causes a movement along a fixed demand curve (also called a change in quantity demanded)? What would cause a shift in the demand curve (also called a change in demand)? 2-What are the reason (s) that cause a movement along a fixed supply curve (also called a change in quantity supplied)? What would cause a shift in the supply curve (also called a change in supply)?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter5: Markets In Motion And Price Controls

Section: Chapter Questions

Problem 10P

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Concept explainers

Market Surplus and Shortage Analysis

In everyday language, a “surplus” indicates that there is an excess of something, while a “shortage” means that there is a scarcity of it. In economics, “market surplus” refers to the condition where the quantity of a certain good more available than what is required or “demanded” by the market. In the same way, a “market shortage” refers to the condition where the quantity of a certain good is less available than what is “demanded” by the market. If quantity in demand is written as Qd and quantity that is supplied is written as Qs, then, the condition Qs > Qd indicates market surplus and condition Qd > Qs indicates market shortage.

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1-What is the reason(s) that causes a movement along a fixed demand curve (also called a change in quantity demanded)? What would cause a shift in the demand curve (also called a change in demand)?
2-What are the reason (s) that cause a movement along a fixed supply curve (also called a change in quantity supplied)? What would cause a shift in the supply curve (also called a change in supply)?

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