FREE ESSAY ON SUPPLY AND DEMAND

SUPPLY AND DEMAND

Supply & Demand
In this article it went into great detail about Supply , Demand and Equilibrium of 
Pokemon Cards.
The article explained how during Christmas there was a flood of Pokemon Cards to the 
Market Place - the area within which buyers and sellers of a good or service interact and

engage in exchange. It stated how the Supply - set of quantities of a good or service per

unit of time that sellers would be willing to place on the market at various alternative

prices of an item or other things being equal , increase rapidly this being called a
"Supply 
Shock."
It then went into details that if the market was flooded with these Pokemon cards at 
Christmas the n the price value of the cards would drop. But not necessarily because of 
Demand - amounts of a product that consumers are willing and able to buy at each price 
in a set of possible prices at a time. If the kids that received Pokemon for Christmas
are 
new to the market then there might be a shift in demand, unlike the kids that have
already 
been into the market with Pokemon Cards. So there could be a rise in the price or a 
decrease depending on the demand.
The article illustrates greatly on the Quantity Supplied - amount of a good or service
that 
people are willing to sell, Quantity Demanded - amount of a good or service that people 
are willing to purchase. Supply Curve - as prices rise the quantity that people are
willing 
to sell rises (Law of Supply). Demand Curve - as prices rise the quantity that people are

willing to buy falls (Law of Demand). Equilibrium - reached when supply equals 
quantity demanded.