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.
A: Supply and demand expresses a relationship between what producers supply and what consumers demand in economics. Aggregate supply and demand is the total supply and total demand in an economy at a particular period of time and particular price threshold. A curve is used to graph the aggregate supply and aggregate demand. These curves illustrate the relationships among price points, time, supply, and demand levels.