Although CPAs have specific education and experience requirements, regular accountants do not. That means students have the opportunity to study in any number of related fields and still be eligible to fill accounting positions. Here are five popular degree options for accountants.
If the demand increases, and the supply remains the same, there will be a shortage. This will mean the price will increase. If the demand decreases, and the supply remains the same, there will be a surplus. This will mean the price will go down.
An increase in buyers' income causes an increase in demand and a rightward shift of the demand curve. This creates a temporary shortage. The shortage causes the price to increase. The higher price eliminates the shortage and the resulting equilibrium quantity increases.