sp25-econ101 econ101
Lecture 03: Demand, supply, and curve shifts Lecture 03: Demand, supply, and curve shifts
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Who supplies and who demands?
Movements and shifts
Supply shifts
Figures from the lecture
Circular flow diagram
The demand curve
The demand curve
What if automobile prices fall?
If the gov’t subsidizes public transit?
What if household income goes down?
Changes in income
What if the price of gasoline goes up?
The supply curve
The supply curve
The supply curve
What if the price of crude oil goes up?
What if the price of crude oil goes up?
If prices will be higher next quarter?
If prices will be higher next quarter?