1. The Economic Principles of: Supply and Demand
represents willingness to sell at certain price
relationship between price and the quantity supplied (actually sell)
Demand
represents willingness and ability to buy at a certain price
relationship between price and quantity demanded (actually buy)

2. Supply and Demand Curve
Supply Curve
Law of Supply
the higher the price of the product, the more the producer will supply
Positive relationship with price, the curve is upward sloping
Demand Curve
Law of Demand
the higher the price of the product, the less the consumer will demand
Negative relationship with price, the curve is downward sloping

3. Supply & Demand Curve …..
Equilibrium is reached when both curves intersect.
At this point, the price is just high enough so that the quantity people want to buy is equal to the quantity business want to sell
the quantity demanded = the quantity supplied

4. Supply and Demand Curve