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What effects on buyers does a change in price from equilibrium have? What about on sellers?

What effects on buyers does a change in price from equilibrium have? What about on sellers?

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Ans. When the equilibrium price in the economy is greater than the original equilibrium then lesser buyers are willing to buy the product. On the other hand when the equilibrium price becomes lesser than the original equilibrium then more buyers will be willing to buy the product.

When the equilibrium price in the economy is greater than the original equilibrium then more sellers are willing to sell the product. On the other hand when the equilibrium price becomes lesser than the original equilibrium then less sellers are willing to sell the product.

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