A change in supply is a movement of the supply curve. This change is caused by a change in any factor, other than price, that alters producer behavior. Use a graph to illustrate and explain the impact on equilibrium price and quantity that results from an decrease in demand. A decrease in demand is a leftward movement of the demand curve. This puts downward pressure on both price and quantity.
Middlemen exist to promote the value of trade and hence increase the amount of value created.
Middlement do this by reducing the transactions costs incurred by buyers and sellers. The reduction in transactions costs creates more mutually beneficial exchanges. Use a graph to illustrate and explain market equilibrium. Use the graph to indicate economic efficiency. Market equilibrium is at the intersection of the supply and demand curves.