Math Geek Mom: Finding a New Equilibrium

By Rosemarie Emanuele. One of the first topics studied in a Principles of Economics course involves the shifting of curves. Downward sloping demand curves (price and quantity values at which consumers are willing to purchase goods) and upward sloping supply curves (combinations of price and quantity at which suppliers are willing to offer goods) are united in an equilibrium where there is no pressure for the price to change. These relationships are often presented as straight lines that shift up and down or back and forth. Read more...