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- [Instructor] What were going to do in this video is think about all of the different ways that a supply curve or a demand curve can shift and thats why we actually have eight versions of the exact same diagram. Each of them is showing where we are right now, lets say in a given region in the ice cream market. Its important to title your graphs, especially if you were taking some type of a standardized exam like an AP exam and in the vertical axis we have P representing price, and then the horizontal axis, Q representing quantity, we have our upwards sloping supply curve. Im calling this S1 just as kind of our starting point and then we have our downwards sloping demand curve, D1 and where they intersect, that gives us our equilibrium price, P1 and our equilibrium quantity, Q1 and once again, if you were taking some type of a standardized test, its important that you label all of these things including P1 and Q1 and show this dotted line where it intersects the horizontal axis,
