Ah at last spring has come and it is time to go feed the birds! All of a sudden: there has been an increase in demand for bird feeders!
The blue line represents the new demand in this market. This leads to an increase in price and quantity of this product as more people want said product.
The blue line represents the new demand in this market. This news now leads to a decrease in demand as many people do not want the birds to be harmed so them stop buying said product. This also leads to a surplus of goods as the spring season has just come into play. With this surplus, sellers are lowering their prices of said product.
Oh No! A new study was just published saying that bird feeders cause bird flu as bird feeders are rarely washed and are a popular place for bacteria to accumulate! All of a sudden: There has been a decrease in demand for bird feeders!
A few decades later, new technology has been created to allow bird feeders to stay clean and sanitary, so the consumers don't need to worry about bird flu! All of a sudden there has been an increase in supply of this product!
This change leads to a price decrease on the object, yet an increase on quantity sold
The product i am using for my example is: bird feeders