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1.     I learned that equilibrium is really important and we don’t realize how hard it is to find it, a lot of consumers always ask why is this that price and why isn’t it this but studying this really made me understand.

2.     Sometimes when I would go shopping for clothes I wouldn’t understand why they wouldn’t have my size, XL, its because the demand for XL isn’t as high as it is for M so they don’t have a lot of supply for it thus escaping a surplus. So when they do have the XL the equilibrium is the proper price it is sold at.

3.     I found the corresponding of supply and demand, shortage and surplus interesting because it makes sense. If its not demanded then you don’t need it so being careful of ordering too many things when theres not enough demand causes surplus. Also its vice versa with supply, if the demand is too high and there is not enough supply there becomes a shortage and then prices may increase.

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This chart shows the formula for supply and demand. On the left and right sides you can see the price decreasing and the numbers increasing but they both meet at 30-10, meaning Quantity demanded is 10 and Quantity supplied is 10 for a price of 30 therefore the equilibrium is 30-10

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In this picture the producers are apologizing on the increase of the price of eggs due to a shortage. The demand for eggs is high but there was not enough supply.

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Another role that plays in the equilibrium market is Surplus. Surplus is a state when the supply is higher than the demand, therefore making the product obsolete and leading in lost of profit. In this case Canadian dairy farmers have a surplus of skim milk due to the demand for butter and cream. If there is no demand for skim milk then they have to get rid of it. Ontario farmers produced over 5.4million liters of milk and 800,000 liters had to get disposed of. This is a prime example of when there is too much supply and not enough demand.

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Canadian dairy farmers are grappling with a glut of milk, forcing them to turn growing volumes into low-cost pig feed and sometimes dump it on farms or in sewage systems.

The head of the Dairy Farmers of Ontario (DFO) acknowledged in a recent letter to farmers that it has been forced to get rid of quantities of unwanted liquid skim milk.

"There have been days in the last couple of weeks when we have had to dispose of skim milk in lagoons," DFO chairman Ralph Dietrich said in the letter. "Right now, we continue to be challenged on a daily basis and there is no obvious end in sight."

The immediate crisis is triggered by "unprecedented" demand for butter and cream, inadequate dairy processing capacity and flat demand for fluid milk, according to DFO officials. The result is a glut of liquid skim milk, which remains after most butterfat has been removed. Quebec dairy farmers are facing similar challenges.

Mr. Dietrich, a dairy farmer from Mildmay, Ont., insisted that no raw milk is being dumped.

Critics say the larger problem is the inflexibility of the supply management regime, which tightly regulates the price and output of milk, chickens and eggs across the country.

Ontario farmers have produced 5.4-million litres of excess skim milk in the past month, according to DFO spokesman Graham Lloyd. Since late May, roughly 800,000 litres of milk has been poured into farm manure pits, called "lagoons."

Sold as low-cost animal feed, the milk would have a value of $500,000; instead farmers will get nothing for that milk, Mr. Lloyd said.

"Supply management depends on perfect market conditions, and there are no such things," said Sylvain Charlebois, a professor at the University of Guelph's Food Institute. "You can never achieve a perfect equilibrium between supply and demand."

Surpluses are a recurring and chronic problem for the industry, he added. "There is too much production out there," Prof. Charlebois explained.

A recent internal DFO report foreshadowed the current dilemma, warning that soaring imports of concentrated milk protein from the United States and elsewhere are creating an existential problem for the dairy supply management regime. These designer ingredients replace fluid milk in the making of cheese, yogurt and other products.

"If milk protein imports continue to grow, the industry will no longer be able to sustain itself as there will be no market for the [skim milk] ... leaving the industry no choice but to dump skim milk or import more butter," according to the report, presented at an industry conference in March.

Faced with a stagnant domestic market, Montreal-based Saputo Inc. and other major Canadian dairy producers have been investing heavily outside the country, where growth opportunities are better. This has exacerbated the skim milk surplus because dairies aren't expanding their Canadian production of butter, cream or milk powder.

Martha Hall Findlay, a former Liberal MP and fellow at the University of Calgary School of Public Policy, said the real victims of the wastage are low-income Canadians, who aren't getting the benefit of lower prices.

In a free market, surpluses would typically lead to lower consumer prices, but that isn't the case in Canada because prices are fixed, she pointed out. "The system can't accommodate fluctuations in demand," said Ms. Findlay, who has written a series of reports advocating the dismantling of the supply management system.

Supply management system is a frequent target of Canada's trading partners because steep tariffs and quotas restrict imports. This has impaired Canada's negotiating clout in the ongoing Trans-Pacific Partnership trade negotiations, involving Canada, the U.S., Japan and nine other countries, complained Toronto trade lawyer James McIlroy.

"I'm not sure why Canada is wasting negotiating coinage in the Trans-Pacific Partnership negotiations to preserve a program that dumps liquid milk into lagoons," Mr. McIlroy said.

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Milk surplus forcing Canada's dairy industry to dump supply

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Canadian dairy farmers are grappling with a glut of milk, forcing them to turn growing volumes into low-cost pig feed and sometimes dump it on farms or in sewage systems. The head of the Dairy Farmers of Ontario (DFO) acknowledged in a recent letter to farmers that it has been forced to get rid of quantities of unwanted liquid skim milk.

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Website#2 Bringing Supply & Demand Together

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Website#2 Bringing Supply & Demand Together

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This talks about what happens if there is too much shortage or too much surplus, the companies must eliminate it. To charge a surplus the price must be charged at a price higher than the equilibrium and higher than what buyers will buy it for. Also what can cause the changes in an equilibrium, changes in the demand curve or supply curve can change the whole balance of the equilibrium.

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Nelson Education - Exploring Microeconomics, Second Canadian Editon

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Nelson Education > Higher Education > Exploring Microeconomics, Second Canadian Editon > Student Resources Section Review Questions/Answers > Chapter 4

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Website #1, How equilibrium is beneficial

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Website #1, How equilibrium is beneficial

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The equilibrium price benefits the whole market. It is the only price where the plans of consumers and producers agree. At any other price the quantity demanded is not the quantity supplied. If everybody is being satisfied with a certain price then the market will be doing well.

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The actual price you see in the world is a balancing act between supply and demand.

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This is the Supply and Demand chart where you can figure out the equilibrium price. The y axis will always be the price and the x axis will always be the quantity demanded. While supply goes up demand goes down but there is a interception of where the price will figure out how much everything should be sold for while maintaining the perfect quantity of demand and supply

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The Demand plays another role in the Equilibrium market. Without the demand there is no need for the supply. The demand is a schedule or curve that shows the quantities of a product purchased at many different prices. It shows you the pattern of consumers follow when they are willing to purchase. Because of the demand of products this opens up a competitive market, a competitive market is where many buyers and even sellers offer the same product. As the price falls for any product then the demand goes up and as the price rises the demand goes down.

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This video talks about Equilibrium, and what it is. Consumers and producers react differently to price changes depending on whether the price goes up or the price goes down, Higher prices lead to more supply and a decrease in demand and Lower prices lead to less supply and increase in demand. But somewhere between the ups and downs there is a spot where they meet. That is called the equilibrium; the equilibrium is the spot where the supply and demand meet.

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Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is "Market Equilibrium" Consumers and producers react differently to price changes. Higher prices tend to reduce demand while encouraging supply, and lower prices increase demand while discouraging supply.

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This video talks about Supply, So basically the video breaks it down as a Producer is one company that stands alone. But a group of producers in a market is called and Industry. Now supply is the amount of goods that a producer or an industry is willing to sell at a certain price. As the price of the supply increases then the Quantity of the supplied increases. The higher the price unit the greater the outcome of profit is. In the equilibrium market without the supply, the demand cannot be met.

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faculdade de economia administração e contabilidade (organization)

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This video will teach you the Economics definition of SUPPLY

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On this website you will learn;
• How to read a supply & demand chart/schedule
• What Equilibrium is
• How Equilibrium is beneficial
• What is supply
• What is demand
• The difference between surplus and shortage
• How consumers react to equilibrium, surplus and shortage
• How to find the market price
• Market Equilibrium equation
• Surplus
• Shortage

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Market Equilibrium By Acquille Richards-George

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Market Equilibrium By Acquille Richards-George

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Market Equilibrium is the point of where supply and demand meet each other. There is a price that is chosen in which buyers are willing to buy at and sellers are willing to produce at. In other words its the perfect balance.