Candy Bars

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The Law of Demand Graphs

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  • Candy Bars
  • Candy Bars
  • Candy Bars
  • Normal Law of Demand Graph for the price of a candy bar, y-axis, and the quantity of candy bars, x-axis
  • Candy Bars
  • There was a decrease in the minimum wage; therefore, consumers pay checks were cut. This results in the law of demand curve shifting left
  • Candy Bars
  • There is a new neighborhood and resulting in an increase in the population. This created a larger demand for the product because there are more consumers
  • Candy Bars
  • Normal Law of Supply graph for the price of a candy bar, y-axis, and the quantity of the candy bars, y-axis
  • The supply curve shifted to the right because there were technological advances that increase production efficiency.
  • The supply curve will be shifted to the left if the cost of resources used to produce a good increases, sellers will be less inclined to supply the same quantity at a given price
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