Diagonally upwards graph

Diagonally downwards graph

PED will always be ...

PES will always be ...

If PED or PES >1 then elasicity will be ...

If PED or PES <1 then elasticity will be...

Demand curve moves to the right

Demand curve moves to the left

Supply curve moves to the right

Supply curve moves to the left

Price increase = total revenue increse
or
Price decrease =
total revenue decrese

Price increase = total revenue decrease
or
Price decrease =
total revenue increase

Price increase or decrease = the same total revenue (no change)

... occurs when there is a balance between demand and supply