Supply Shocks | Microeconomics

I analyze the effects of positive and negative supply shocks in the diagram on the market equilibrium. As a positive supply shock I refer to a cut in tariffs and an associated increase in imports. As the negative supply shock, I refer to an oil price crisis. I show how these shocks affect the supply curve, the price level, and the equilibrium quantity.

For the properties and derivations of market demand, market supply, and the market equilibrium, please refer to the previous lectures:

For the effects of changes in demand on the market equilibrium, please see the following videos of this lecture series:

For the playlist on Basic Economic Concepts, please visit

[KlausPrettner]

For the properties and derivations of market demand, market supply, and the market equilibrium, please refer to the previous lectures:


For the effects of changes in demand on the market equilibrium, please see the following videos of this lecture series:


For the playlist on Basic Economic Concepts, please visit

[hemantpandey]

you teach like a university prof, never waste time🙂🙂