Demand and Supply Comic

Demand and Supply Comic
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  • 2) Since my income increased from $50 per week to $75 per week , I'm thinking about buying more meat for now on. 
  • Jim's Store
  • 1) That was delicious a delicious steak Jim! I wish you could make them more often. 
  • 1) What is the special occasion Jim, you have been buying more steak recently?
  • 2) MY income from my job just increased, so now I'm able to buy more than before. 
  • 2) Yes.....thanks for explaining it Joe......
  • 1) ...So basically, you shifted the demand curve of the steak to the right because your income increased. 
  • 1) If the price of wheat is going down next year, should I sell mine immediately before the price falls?
  • 2) Of course Jim.
  • 2) I'm selling whatever supply of wheat I have on me now before its value decreases next year.
  • 1) Why are you selling more weat than before?
  • One year Later.....
  • 2) Awesome.
  • 1) Congrats Jim on helping to shift the supply curve to the left! Expecting higher prices in the future may have reduced the price of your wheat now, but you've earned more money by placing your wheat in the market immediately. 
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