Chapter 2 Supply and demand Explain what is meant by a demand curye explain the difference between a change in demand and a change in quantity demanded haw one is a shift and the lather is a meyement alpng the demand curye illustrate and explain the factors that can affect the Dd -- illustrate and explain factors that affect the quantity supplied Explain concept of market equilibrium Illustrate and explain the laws of supply and demand identify any surplus pr shprtage can you predict what will happen if hath supply and demand increase