Demand and Supply Schedules for DVDs

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Demand Schedule: Price per DVD vs. Quantity Demanded

Back

Demand schedule shows the relationship between the price of a DVD and the quantity demanded.

Front

Supply Schedule: Price per DVD vs. Quantity Supplied

Back

Supply schedule illustrates the relationship between the price of a DVD and the quantity supplied.

Front

Price per DVD: $14

Back

Quantity Demanded: 700 million

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Price per DVD: $12

Back

Quantity Demanded: 900 million

Front

Corporate taxes increase effect on supply curve

Back

Supply curve shifts left

Front

Demand curve shift with recession

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Leftward shift

Front

Supply curve shift with new technology

Back

Rightward shift

Front

Direction of supply curve shift with efficient technology

Back

Right

Front

Price Ceilings

Back

A price ceiling is a government-imposed limit on how high a price can be charged on a product.

Front

Shortage Definition

Back

A shortage occurs when the quantity demanded exceeds the quantity supplied at a given price.