Module Code: ABZ2019AC116

Module Title: Introduction to Demand and Supply Curves

Delivered By: Ting F.M., Chris R., Lakshmi N., and Lynn A.

Session Number: Session-10, Monday, August 05, 2019

Design Tools for Demand and Supply Curves-PART II

In drawing the demand curve of a commodity, it is assumed that the factors (except the price of the commodity) that influence the demand curve are fixed. Therefore, a change in one of the factors that influence the demand curve would shift the demand curve either to the right or to the left. The shift of the demand curve will lead to a new equilibrium point. Similar to the demand curve, in drawing the supply curve, it is assumed that the factors (except the price of the commodity) that influence the supply curve are fixed. Therefore, a change in one of the factors would shift the supply curve either to the right or left. The shift of the supply curve will lead to a new equilibrium point, given that the demand curve remains unchanged. Now, if both the demand and the supply curves are shifted simultaneously due to the change in the factors that influence the curves, the equilibrium point would also be changed. However, the quantity and direction of the shift of the demand and the supply curve would decide the new equilibrium point relative to the existing equilibrium point. Therefore, to understand more on demand and supply curves of a commodity, which are shifted either to the right or to the left, a few design tools are presented below.

iDemand Rshifter Version 1.0

iDemand Rshifter Version 1.0 extends the functionality of iEquilibrium Version 1.0. The tool determines the equilibrium point of a commodity whose demand curve is shifted to the right. The quantity by which the demand curve is shifted to the right, the demand and supply curves are the inputs to the tool.

LEARN/TEST

iDemand Rshifter PlotP Version 1.0

iDemand Rshifter PlotP Version 1.0 extends the functionality of iDemand Rshifter Version 1.0. The tool plots the equilibrium price against the quantity by which the demand curve is shifted to the right.

LEARN/TEST

iDemand Rshifter PlotQ Version 1.0

iDemand Rshifter PlotQ Version 1.0 extends the functionality of iDemand Rshifter Version 1.0. The tool plots the equilibrium quantity against the quantity by which the demand curve is shifted to the right.

LEARN/TEST

iDemand Lshifter Version 1.0

iDemand Lshifter Version 1.0 extends the functionality of iDemand Rshifter Version 1.0. The tool determines the equilibrium point of a commodity whose demand curve is shifted to the left. The quantity by which the demand curve is shifted to the left, the demand and supply curves are the inputs to the tool.

LEARN/TEST

iSupply Lshifter Version 1.0

iSupply Lshifter Version 1.0 extends the functionality of iEquilibrium Version 1.0. The tool determines the equilibrium point of a commodity whose supply curve is shifted to the left. The quantity by which the supply curve is shifted to the left, the demand and supply curves are the inputs to the tool.

LEARN/TEST

iSupply Lshifter PlotP Version 1.0

iSupply Lshifter PlotP Version 1.0 extends the functionality of iSupply Lshifter Version 1.0. The tool plots the equilibrium price against the quantity by which the supply curve is shifted to the left.

LEARN/TEST

iSupply Lshifter PlotQ Version 1.0

iSupply Lshifter PlotQ Version 1.0 extends the functionality of iSupply Lshifter Version 1.0. The tool plots the equilibrium quantity against the quantity by which the supply curve is shifted to the left.

LEARN/TEST

iSupply Rshifter Version 1.0

iSupply Rshifter Version 1.0 extends the functionality of iEquilibrium Version 1.0. The tool determines the equilibrium point of a commodity whose supply curve is shifted to the right. The quantity by which the supply curve is shifted to the right, the demand and supply curves are the inputs to the tool.

LEARN/TEST

iSupply Rshifter PlotP Version 1.0

iSupply Rshifter PlotP Version 1.0 extends the functionality of iSupply Rshifter Version 1.0. The tool plots the equilibrium price against the quantity by which the supply curve is shifted to the right.

LEARN/TEST

iSupply Rshifter PlotQ Version 1.0

iSupply Rshifter PlotQ Version 1.0 extends the functionality of iSupply Rshifter Version 1.0. The tool plots the equilibrium quantity against the quantity by which the supply curve is shifted to the right.

LEARN/TEST

iDeSupply Rshifter Version 1.0

iDeSupply Rshifter Version 1.0 extends the functionality of iEquilibrium Version 1.0. The tool determines the equilibrium point of a commodity whose supply and demand curves are shifted to the right. The quantity by which the supply curve is shifted to the right, the quantity by which the demand curve is shifted to the right, the demand and supply curves are the inputs to the tool.

LEARN/TEST

You have reached the end of today's session.

Good luck! Hope you enjoy.