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Слайды и текст к этой презентации:

№1 слайд
Содержание слайда:
№2 слайд
The Market Forces of Supply
Содержание слайда: 4 The Market Forces of Supply and Demand
№3 слайд
Supply and demand are the two
Содержание слайда: Supply and demand are the two words that economists use most often. Supply and demand are the forces that make market economies work. Modern microeconomics is about supply, demand, and market equilibrium.
№4 слайд
MARKETS AND COMPETITION A
Содержание слайда: MARKETS AND COMPETITION A market is a group of buyers and sellers of a particular good or service. The terms supply and demand refer to the behavior of people . . . as they interact with one another in markets.
№5 слайд
MARKETS AND COMPETITION
Содержание слайда: MARKETS AND COMPETITION Buyers determine demand. Sellers determine supply
№6 слайд
Competitive Markets A
Содержание слайда: Competitive Markets A competitive market is a market in which there are many buyers and sellers so that each has a negligible impact on the market price.
№7 слайд
Competition Perfect and
Содержание слайда: Competition: Perfect and Otherwise Perfect Competition Products are the same Numerous buyers and sellers so that each has no influence over price Buyers and Sellers are price takers Monopoly One seller, and seller controls price
№8 слайд
Competition Perfect and
Содержание слайда: Competition: Perfect and Otherwise Oligopoly Few sellers Not always aggressive competition Monopolistic Competition Many sellers Slightly differentiated products Each seller may set price for its own product
№9 слайд
DEMAND Quantity demanded is
Содержание слайда: DEMAND Quantity demanded is the amount of a good that buyers are willing and able to purchase. Law of Demand The law of demand states that, other things equal, the quantity demanded of a good falls when the price of the good rises.
№10 слайд
The Demand Curve The
Содержание слайда: The Demand Curve: The Relationship between Price and Quantity Demanded Demand Schedule The demand schedule is a table that shows the relationship between the price of the good and the quantity demanded.
№11 слайд
Catherine s Demand Schedule
Содержание слайда: Catherine’s Demand Schedule
№12 слайд
The Demand Curve The
Содержание слайда: The Demand Curve: The Relationship between Price and Quantity Demanded Demand Curve The demand curve is a graph of the relationship between the price of a good and the quantity demanded.
№13 слайд
Figure Catherine s Demand
Содержание слайда: Figure 1 Catherine’s Demand Schedule and Demand Curve
№14 слайд
Market Demand versus
Содержание слайда: Market Demand versus Individual Demand Market demand refers to the sum of all individual demands for a particular good or service. Graphically, individual demand curves are summed horizontally to obtain the market demand curve.
№15 слайд
Shifts in the Demand Curve
Содержание слайда: Shifts in the Demand Curve Change in Quantity Demanded Movement along the demand curve. Caused by a change in the price of the product.
№16 слайд
Changes in Quantity Demanded
Содержание слайда: Changes in Quantity Demanded
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Shifts in the Demand Curve
Содержание слайда: Shifts in the Demand Curve Consumer income Prices of related goods Tastes Expectations Number of buyers
№18 слайд
Shifts in the Demand Curve
Содержание слайда: Shifts in the Demand Curve Change in Demand A shift in the demand curve, either to the left or right. Caused by any change that alters the quantity demanded at every price.
№19 слайд
Figure Shifts in the Demand
Содержание слайда: Figure 3 Shifts in the Demand Curve
№20 слайд
Shifts in the Demand Curve
Содержание слайда: Shifts in the Demand Curve Consumer Income As income increases the demand for a normal good will increase. As income increases the demand for an inferior good will decrease.
№21 слайд
Consumer Income Normal Good
Содержание слайда: Consumer Income Normal Good
№22 слайд
Consumer Income Inferior Good
Содержание слайда: Consumer Income Inferior Good
№23 слайд
Shifts in the Demand Curve
Содержание слайда: Shifts in the Demand Curve Prices of Related Goods When a fall in the price of one good reduces the demand for another good, the two goods are called substitutes. When a fall in the price of one good increases the demand for another good, the two goods are called complements.
№24 слайд
Table Variables That
Содержание слайда: Table 1 Variables That Influence Buyers
№25 слайд
SUPPLY Quantity supplied is
Содержание слайда: SUPPLY Quantity supplied is the amount of a good that sellers are willing and able to sell. Law of Supply The law of supply states that, other things equal, the quantity supplied of a good rises when the price of the good rises.
№26 слайд
The Supply Curve The
Содержание слайда: The Supply Curve: The Relationship between Price and Quantity Supplied Supply Schedule The supply schedule is a table that shows the relationship between the price of the good and the quantity supplied.
№27 слайд
Ben s Supply Schedule
Содержание слайда: Ben’s Supply Schedule
№28 слайд
The Supply Curve The
Содержание слайда: The Supply Curve: The Relationship between Price and Quantity Supplied Supply Curve The supply curve is the graph of the relationship between the price of a good and the quantity supplied.
№29 слайд
Figure Ben s Supply Schedule
Содержание слайда: Figure 5 Ben’s Supply Schedule and Supply Curve
№30 слайд
Market Supply versus
Содержание слайда: Market Supply versus Individual Supply Market supply refers to the sum of all individual supplies for all sellers of a particular good or service. Graphically, individual supply curves are summed horizontally to obtain the market supply curve.
№31 слайд
Shifts in the Supply Curve
Содержание слайда: Shifts in the Supply Curve Input prices Technology Expectations Number of sellers
№32 слайд
Shifts in the Supply Curve
Содержание слайда: Shifts in the Supply Curve Change in Quantity Supplied Movement along the supply curve. Caused by a change in anything that alters the quantity supplied at each price.
№33 слайд
Change in Quantity Supplied
Содержание слайда: Change in Quantity Supplied
№34 слайд
Shifts in the Supply Curve
Содержание слайда: Shifts in the Supply Curve Change in Supply A shift in the supply curve, either to the left or right. Caused by a change in a determinant other than price.
№35 слайд
Figure Shifts in the Supply
Содержание слайда: Figure 7 Shifts in the Supply Curve
№36 слайд
Table Variables That
Содержание слайда: Table 2 Variables That Influence Sellers
№37 слайд
SUPPLY AND DEMAND TOGETHER
Содержание слайда: SUPPLY AND DEMAND TOGETHER Equilibrium refers to a situation in which the price has reached the level where quantity supplied equals quantity demanded.
№38 слайд
SUPPLY AND DEMAND TOGETHER
Содержание слайда: SUPPLY AND DEMAND TOGETHER Equilibrium Price The price that balances quantity supplied and quantity demanded. On a graph, it is the price at which the supply and demand curves intersect. Equilibrium Quantity The quantity supplied and the quantity demanded at the equilibrium price. On a graph it is the quantity at which the supply and demand curves intersect.
№39 слайд
SUPPLY AND DEMAND TOGETHER
Содержание слайда: SUPPLY AND DEMAND TOGETHER
№40 слайд
Figure The Equilibrium of
Содержание слайда: Figure 8 The Equilibrium of Supply and Demand
№41 слайд
Figure Markets Not in
Содержание слайда: Figure 9 Markets Not in Equilibrium
№42 слайд
Equilibrium Surplus When
Содержание слайда: Equilibrium Surplus When price > equilibrium price, then quantity supplied > quantity demanded. There is excess supply or a surplus. Suppliers will lower the price to increase sales, thereby moving toward equilibrium.
№43 слайд
Equilibrium Shortage When
Содержание слайда: Equilibrium Shortage When price < equilibrium price, then quantity demanded > the quantity supplied. There is excess demand or a shortage. Suppliers will raise the price due to too many buyers chasing too few goods, thereby moving toward equilibrium.
№44 слайд
Figure Markets Not in
Содержание слайда: Figure 9 Markets Not in Equilibrium
№45 слайд
Equilibrium Law of supply and
Содержание слайда: Equilibrium Law of supply and demand The claim that the price of any good adjusts to bring the quantity supplied and the quantity demanded for that good into balance.
№46 слайд
Three Steps to Analyzing
Содержание слайда: Three Steps to Analyzing Changes in Equilibrium Decide whether the event shifts the supply or demand curve (or both). Decide whether the curve(s) shift(s) to the left or to the right. Use the supply-and-demand diagram to see how the shift affects equilibrium price and quantity.
№47 слайд
Figure How an Increase in
Содержание слайда: Figure 10 How an Increase in Demand Affects the Equilibrium
№48 слайд
Three Steps to Analyzing
Содержание слайда: Three Steps to Analyzing Changes in Equilibrium Shifts in Curves versus Movements along Curves A shift in the supply curve is called a change in supply. A movement along a fixed supply curve is called a change in quantity supplied. A shift in the demand curve is called a change in demand. A movement along a fixed demand curve is called a change in quantity demanded.
№49 слайд
Figure How a Decrease in
Содержание слайда: Figure 11 How a Decrease in Supply Affects the Equilibrium
№50 слайд
Table What Happens to Price
Содержание слайда: Table 4 What Happens to Price and Quantity When Supply or Demand Shifts?
№51 слайд
Summary Economists use the
Содержание слайда: Summary Economists use the model of supply and demand to analyze competitive markets. In a competitive market, there are many buyers and sellers, each of whom has little or no influence on the market price.
№52 слайд
Summary The demand curve
Содержание слайда: Summary The demand curve shows how the quantity of a good depends upon the price. According to the law of demand, as the price of a good falls, the quantity demanded rises. Therefore, the demand curve slopes downward. In addition to price, other determinants of how much consumers want to buy include income, the prices of complements and substitutes, tastes, expectations, and the number of buyers. If one of these factors changes, the demand curve shifts.
№53 слайд
Summary The supply curve
Содержание слайда: Summary The supply curve shows how the quantity of a good supplied depends upon the price. According to the law of supply, as the price of a good rises, the quantity supplied rises. Therefore, the supply curve slopes upward. In addition to price, other determinants of how much producers want to sell include input prices, technology, expectations, and the number of sellers. If one of these factors changes, the supply curve shifts.
№54 слайд
Summary Market equilibrium is
Содержание слайда: Summary Market equilibrium is determined by the intersection of the supply and demand curves. At the equilibrium price, the quantity demanded equals the quantity supplied. The behavior of buyers and sellers naturally drives markets toward their equilibrium.
№55 слайд
Summary To analyze how any
Содержание слайда: Summary To analyze how any event influences a market, we use the supply-and-demand diagram to examine how the even affects the equilibrium price and quantity. In market economies, prices are the signals that guide economic decisions and thereby allocate resources.
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