In a wide variety of historic and current examples, we find that we can explain changes in quantities and prices as the equilibria of supply and demand, with shifts in demand or in supply causing changes in price and quantity. The changes in price and quantity are coordinated in ways that can be understood and predicted, if we understand the theory of supply and demand.

Literature

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2. Lisa Knight, Meadow Glade Elementary, Battle Ground, WA. Supply and demand. 2004.

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