Question: Choose either supply or demand for your WHOLE example. Then compare more or less in either your supply or demand to the same change in
Choose either supply or demand for your WHOLE example. Then compare more or less in either your supply or demand to the same change in quantity supplied or demanded.
example:
1.When summer ends in September we need less gas and oil companies make less and charge less. This is less quantity supplied.
2. Price falls.
3. Quantity supplied falls.
4. In March 2022 Russian oil was embargoed. Supply fell.
5. Price rose.
6. Quantity supplied fell.
Remember your unique example must be more demand versus more quantity demanded, less demand versus less quantity demanded, more supply versus more quantity supplied or less supply versus less quantity supplied.
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