Even the new Jack 2 field in the gulf of Mexico would only supply a few months of domestic demand.

If we talk about an actual quantity, we should say the quantity demanded.

And so, for any given price point, the demand would increase.

Let me write that in green.

Scenario E, I raise it to 10.

Everybody needs a cell phone.

If we lower the price of a product, that will raise the quantity demanded of that product.

Or another way to think of it is, is this entire demand curve.

The supply demand balance is tight.

They decide to sell their house.

WRlTING Demand goes up.

There is more people that have money in their pockets.

And so essentially, it will shift, it will change the entire demand curve.

I'd rather have than just getting more of this thing right over here

So, income goes up, then that increases demand.

And I had this captured market. You didn't need contracts.

This is the total numbers of cupcakes all of the factories in the market can produce.

This column let me put my price.

Everybody gather up supplies.

And so if income goes up for this laptop, the demand will increase.

When we hold everything else equal, we're moving along a given demand curve.

Here is the demand forecast for 1998.

Imported cars are in strong demand.

All the movements stopped at falsifying.

They can give away their sustenance goods, okay?

So income goes down, demand goes up.

So we'll put price in the vertical axis and we'll put quantity demanded in the horizontal axis.

When everything else is equal and you're only changing price, you're not changing demand.

And in those cupcake economics videos, I showed that if the demand is pushing up against capacity.

So, it would shift the demand curve to the right or it would increase demand.

Supply is relative to demand.

The price reflects the demand.

These goods are in great demand.

The camera was essential for me.

There is a great demand for gasoline.

The lust denies the need.

And then the last one we'll talk about

So it's shifting demand to the right.

And if there's more cash in the banking system this guy right over here needs less

So I get to 8 now.

This is what we call the DEMAND SCHEDULE.

Other munitions production figures are as follows.

When we're talking about a particular quantity demanded we say quantity demanded we don't just say demand

I'm sure some of you out there are economists, and you know all about supply and demand.

Actually, we're going to start with aggregate demand and then start talking about aggregate supply.