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.
The market supply curve slopes up for two reasons: 1  As the price increases, more firms decide to enter the marketâthat is, these firms produce some positive quantity other than zero. 2  As the price increases, firms increase the quantity that they wish to produce.