1. MARKET EQUILIBRIUM

2.   Market Equilibrium is when the quantity demanded and the quantity supplied at a particular price are EQUAL.   Equilibrium Price is the price at which the quantity demanded and the quantity supplied are equal.

3. Price per Slice Quantity Demand Quantity Supplied $5.001050 $4.002040 $3.0030 $2.004020 $1.005010 0 Quantity Price 10 20 4050 30 $1 $3 $4 $2 $5 $6 60

4. Quantity Price A SURPLUS is when the quantity supplied is greater than the quantity demanded.

5. Quantity Price A SHORTAGE is the result of quantity demanded is greater than quantity supplied.

6. If neither a shortage or surplus exists, then the market is at equilibrium!

7.   Market Disequilibrium is when quantity demanded and quantity supplied are NOT in balance.   Equilibrium again is when quantity demanded and quantity supplied ARE in balance.

8.   The time period between the change in demand and change in equilibrium price is known as DISEQUILIBRIUM http://education-portal.com/academy/lesson/how-changes-in-supply- and-demand-affect-market-equilibrium.html

9.   If demand decreases, or supply increases then equilibrium price goes _____________ 0 Quantity Price 10 20 4050 30 $1 $3 $4 $2 $5 $6 60 DOWN

10.   If demand increases OR supply decreases, equilibrium price goes _____________ 0 Quantity Price 10 20 4050 30 $1 $3 $4 $2 $5 $6 60 UP

11. If demand decreases OR Supply increases THEN If demand increases OR Supply decreases THEN http://www.youtube.com/watch?v=2YyJWEzY0vo Supply and Demand Review video:

12. 0 Quantity Price 5 10 2025 15 $5 $15 $20 $10 $25 $30 30