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.
5. If the expected future price of the product rises (falls), the supply curve in the present period shifts leftward (rightward). A change in supply also affects the price and quantity of the product. 1. An increase in supply (a shift rightward of the supply curve) causes the price to fall and the quantity to increase. 2. A decrease in supply (a shift leftward in the supply curve) causes the price to rise and the quantity to decrease