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Explain the chain effects on demand, sup...

Explain the chain effects on demand, supply and price of a commodity caused by a leftward shift of a demand curve. Use diagram.
OR
A product market is in equilibrium. Suppose the demand for the product decreases. What changes will take place in the market? Use diagram.

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SANDEEP GARG-PRICE DETERMINATION AND SIMPLE APPLICATIONS-Short Answer Type Questions
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  14. Explain the effects of a 'Price Ceiling'.

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  15. Explain the effects of a 'Price Floor'.

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  16. What is maximum price ceiling? Explain its implications.

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  17. What is minimum price ceiling? Explain Its implications.

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  18. Explain the chain effects, if the prevailing market price is below the...

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  19. If the prevailing market price is above the equilibrium price, explain...

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  20. Explain the chain of effects of 'increase' in demand of a good.

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