A product market is in equilibrium. Suppose the demand for the product decreases. What changes will take place in the market ? Use diagram.

Market for a product is in equilibrium. Demand for the product 'decreases'. Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.

Market for a product is in equilibrium. Supply of the product 'decreases'. Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.

Market for a good is in equilibrium. Supply of the good 'decreases'. Explain the chain of effects of this change on the market for the good. Use diagram.

Market of a commodity is in equilibrium. Demand for the commodity ''decreases''. Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.

If equilibrium price of a good is greater than its market price, explain all the changes that will take place in the market. Use diagram. OR Explain the changes that will take place in the market when market price of a good is less than its equilibrium price. Use diagram.