Search form. Barack Obama. Barack Obama is the 44th President of the United States. His story is the American story -- values from the heartland, a middle-class upbringing in a strong family, hard work and education as the means of getting ahead, and the conviction that a life so blessed should be lived in service to others.
If both demand and supply decrease, consumers wish to buy less andfirms wish to supply less, so output will fall. However, since consumers place a lower value on each unit, but producers are willing to supply each unit only at higher prices, the effect on price will depend on the relative size of the two changes.
For example, if the price of the product is $10, the quantity demanded will be 100. As price increases to $20, demand will fall to 50, and when price further increases to $30 demand will fall to 25. Plotting these points on a graph will show a downward sloping demand curve from left to right. Supply Curve. Supply is the amount of goods and services that a producer is willing to supply to the market place for a given price.