Can supply and demand shift at the same time?
1 Answer
Feb 15, 2016
Yes, Supply and Demand can shift at the same time.
Explanation:
Shift in demand and supply are caused by factors other than price.
Factors governing Demand are different form factors governing supply, hence both can shift at the same time.
For example, a change in income of the consumer, change in taste and preference cause a shift in demand curve.
A change in technology, a change in number of producers cause a shift in the supply curve.
