Econ - Supply/Demand Equilibrium

Clothing

100

Billy just turned 5 and outgrew his shoes again. His parents took to buy new ones last weekend.

(T) Decrease in Demand 

DEMAND Shifts LEFT

P: DOWN Q: DOWN

200

Scamazon requires a new uniform for its staff, and all 2,000 regional managers had to order a blue tuxedo. 

(N) Increase in supply

SUPPLY shifts RIGHT

P: DOWN Q:UP

300

Taylor Swift is seen with a new pair of heels. Over the next week, many of her fans are seen in photos online wearing them.

(T) Increase in Demand

DEMAND shifts RIGHT

P: UP Q: UP

400

Nike releases a shoe for $225 that has a line of people stretching across a mall. Only half of the line could buy a pair—and half of them immediately resold them online for $700.

PRICE CEILING 

SHORTAGE 

P: DOWN Q: Qs<Qd

500

Macys had a summer sale in July that did well after higher-ups predicted back-to-school shopping will struggle to compete with Scamazon this year.  

(E) Increase in Supply

SUPPLY shifts RIGHT

P: UP Q: UP

Living Essentials

100

20,000 new condos were built in Riverview, FL over the past several months.

(# of Sellers) Increase in Supply

SUPPLY shifts RIGHT

P: DOWN Q: UP

200

Lamar received a promotion and immediately moved into a nice studio apartment downtown.

(I) Increase in Demand

DEMAND shifts RIGHT

P: UP Q: UP

300

The price of Verizon Internet went down 20% in Kentucky, while none of their competition went down in price more than 12%.

(Related Products) Increase in Demand 

DEMAND shifts RIGHT

P: UP Q: UP

400

TECO is automatically raising prices each year by a few percent until 2027, regardless of the demand for the electricity in Tampa.

PRICE FLOOR

P: UP Q: Qd<Qs

500

Each year, car insurance companies leave Florida because there are too many accidents for them to handle within their budgets while still being profitable.

(# of Sellers) Decrease in Supply

SUPPLY shifts LEFT

P: UP Q: DOWN

Things Happen

100

Rashee got into a car accident and totaled his car. He now had to wake up at 4:30 AM to take the bus to work.

(T) Increase in Demand

DEMAND shifts Right

P: UP Q: UP

200

You're in line at Chicken-Fil-A (someplace in the mall). Suddenly a man aggresively asks you to order him a chicken sandwich and some waffle fries. You have no choice.

(T) Increase in Demand 

DEMAND shifts RIGHT

P: UP Q: UP

300

Your house was damaged in a hurricane and you had to stay in a hotel for a week. The company tells you they they'll take 3 weeks longer. You extend your hotel stay till the end of the month.

(E of Buyer) Increase in Demand

DEMAND shifts RIGHT

P: UP Q: UP

400

You got diagnosed with HDMI back in 2017. You've been using Medicine A since then, but recently Medicine B just dropped in price by 75%. Your doctor has told you for years both should work just as well for you.

(R) Decrease in Demand

DEMAND shifts LEFT

P: Down Q: Down

500

Ms. Parker visited the same Taco Bell on Thursday afternoons since 1989. Ms. Parker passed away on Wednesday. The Taco Bell staff the next day prepared her meal, just in-case she ran late. But she never came.

(# of Buyers) Decrease in Demand

DEMAND shift LEFT

P: DOWN Q: DOWN

Music/Musicians

100

Guitar World has encountered difficulty selling Guitars, and have attempted to stock more digital music equipment. The change has been a sucessful move.

(O) Increase in Supply

SUPPLY shifts RIGHT

P: Down Q: Up

200

Despite signing to a label for $2 million in 2021, rapper "Lil' Brain" was seen panhandling for money last weekend in Ohio. Articles state he went from 8 million to 8 hundred streams a month online.

(T) Decrease in Demand

DEMAND shifts LEFT 

P: Down Q: Down

300

Kendrick Lamar released his new album exclusively on Scamazon Music. Millions of fans reconsidered their Spotify subscription.

(R) Decrease in Demand

DEMAND shifts LEFT

P: Down Q: Down

400

Rapper Sexyy Red performed in Tampa on September 25th, 2024. The local parking lots reported a quarterly peak in revenue made from the event.

(R) Increase in Demand

DEMAND shifts RIGHT

P: Up Q: Up

500

To this day, Apple charges 99 cents per song—despite knowing the average consumer these days are not willing and able to pay that price to own the files.

PRICE FLOOR

P: Up Q: Qd<Qs

Random

100

LaDainian is a realtor, and recently moved to Tampa because he heard it was a rapidly emerging market.

(# of Buyers) Increase in Demand

Demand shifts RIGHT

P: Up Q: Down

200

In 2006, Sony sold the PS3 for $500 per unit, despite the fact it cost them $800 to make and sell each unit. The PS3 was not profitable until 2009.

PRICE CEILING

P: Down Q: Qs<Qd

300

Hyundai released a new EV for $38,000. A month later, Tesla lowered their prices to $26,000. Tesla outsold Hyundai by 200,000 units.

(Related Products) Increase in Demand

DEMAND shifts RIGHT

P: UP D: UP

400

The year is 2060 and the AI Overlord Robots decide to charge $20 per gallon for human drinking water, as they have decided we have used it too irresponsibly.

PRICE FLOOR

P: Up Q: Qd<Qs

500

You expect to file for divorce at any moment. You have been spending up your credit cards, as you expect to be able to dump off the debt to your soon to be ex-spouse.

(E) Increase in Demand

DEMAND shifts RIGHT 

P: Down Q: Up