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Re/ the economics: It's okay, many people don't get a formal course in this stuff. First look at the graph with two lines on https://en.wikipedia.org/wiki/Suppl
by hiAndrewQuinn 3y ago
Re/ the economics: It's okay, many people don't get a formal course in this stuff. First look at the graph with two lines on https://en.wikipedia.org/wiki/Supply_and_demand https://en.wikipedia.org/wiki/Supply_and_demand. Notice that the y-axis is P for Price.
Now imagine first off what happens to Price when you shift the downward sloping curve forward. That is what economists call the demand curve. Does Price go up or down?
Finally, imagine what happens to Price when you shift the upward sloping curve backward. That is what economists call the supply curve. Does Price go up or down?