Economic Definition of demand and supply decrease. Defined.
Offline Version: PDF
Term demand and supply decrease Definition: A simultaneous decrease in the willingness and ability of buyers to purchase a good at the existing price, illustrated by a leftward shift of the demand curve, and a decrease in the willingness and ability of sellers to sell a good at the existing price, illustrated by a leftward shift of the supply curve. When combined, both shifts result in a decrease in equilibrium quantity and an indeterminant change in equilibrium price.
« demand | demand and supply increase »
Permalink: https://glossary.econguru.com/economic-term/demand+and+supply+decrease