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The law of demand states that, ceteris paribus, as the price of a good increases, the quantity demanded decreases, and vice versa.
The law of supply states that, ceteris paribus, as the price of a good increases, the quantity supplied increases, and vice versa.
The equilibrium price is the price at which the quantity demanded equals the quantity supplied in a market.
Factors such as changes in income, tastes, prices of related goods, expectations, and the number of buyers shift the demand curve.
Factors such as changes in input prices, technology, expectations, number of sellers, and government policies shift the supply curve.