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DEMAND AND SUPPLY (SUPPLY (Supply Curve (Shift (Expectation, Technology,…
DEMAND AND SUPPLY
SUPPLY
Price
Supply Schedule
Quantity Supplied
Supply Curve
Positive Relationship
Shift
Expectation
Technology
Cost
Movement
Price
DEMAND
Quantity Demanded
Price
Demand Schedule
Demand Curve
Negative Realtionship
Shift
Number of buyers
Expectations
Price
Movement
Price of the Goods itself
Market
Place
Buyers and Sellers
Goods and Services
Transaction
Competition
Perfect Competition
SAME
product
Sellers are
PRICE TAKER
Monopoly
ONE
seller
Control Price
Oligopoly
few sellers
Monopolistic
many
sellers
differentiated sellers
