Chapter 3

Gasoline Prices Move with Demand and Supply Changes

A Downward-Sloping Demand Curve Relates Quantity Demanded to Price

Declining Computer Prices Have Fueled an Explosive Growth in Computer Power

Increase in Demand for Automobiles

Supply Curve Relates Quantity Supplied to Price

Increased Supply of Automobiles

Market Equilibrium Comes at the Intersection of Supply and Demand Curves

Shifts in Supply or Demand Change Equilibrium Price and Quantity

Shifts of and Movements
along Curves

Impact of Immigration on Wages