• Distinguish between changes in demand and changes in quantity demanded.
• Distinguish between changes in supply and changes in quantity supplied.
• Examine how the interaction of demand and supply determine the market price and the equilibrium quantity.
• Evaluate why marginal utility tends to decline as a person consumes more of a good or service.

Write a one-page paper distinguishing the differences between supply and demand. Using the reading material from below:

Walters, J. J., Appel, C. D., Callahan, C. A., Centanni, N. L., Maex, S. A., & Da (2013). Econversations. Pearson Education (US). https://reader2.yuzu.com/books/9780133468298 : read pages 45-48

Madariaga, B. (2009). Economics for Life: 101 Lessons You Can Use Every Day! (3rd ed.). Cengage Learning US. https://reader2.yuzu.com/books/9780357903834 : read pages 5-16, 67