3 Questions to Ask About Demand and Supply Shift _ When an event causes the demand or supply curve to shift, the point of equilibrium changes. 1. Does the event affect demand, supply or both? 2. Doe the event shift the demand or supply curve to the right or to the left? 3. What are the new equilibrium price and quantity, and how have they changed as a result of the event? O In the real world, demand and supply are continually shifting in response to events