西方经济学2

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2.A market: A. Is any place where goods are bought and sold B. Must have a physical location so buyers and sellers can meet C. Does not exist for the exchange of illegal goods and services D. Must be approved by the government before it can exist 3.Which of the following is not a factor of production? A. Land B. Wages C. Labor D. Capital
left or right.
☆ Caused by a change in a determinant
other than the price.
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Changes in Demand
P
Increase in demand
2.00
Decrease in demand
A
B
D2
0
D3
D1
30
20
Qd27
Q u an tity 12 10 8 6 4 2 0
1.00
0.50
Quantity of 19 Ice-Cream Cones
0 1
2 3 4 5 6 7 8 9 10 11 12
Law of Demand
★ The law of demand states that there is an
inverse relationship between price and
B. Purchase factors of production from the factor market
C. Do not participate in the factor market D. Provide factors of production to the product market
A. Financial market B. Intermediate-goods market C. Factor market D. Product market 7. The direct exchange of one good for another is known as: A. Welfare B. Barter C. Imports D. Demand
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Mathematical Preliminaries: Diagrams
The pie chart in panel (a) shows how U.S. national income is derived Figure 2A-1 from various sources. The bar graph in panel (b) compares the average income in four countries. The time-series graph in panel (c) shows the growth in productivity of the U.S. business sector from 1950 to 2000.
★ The demand curve is the downward-
sloping line relating price to quantity
demanded.
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Demand Curve
Price of Ice-Cream Cone
$3.00 2.50 2.00 1.50
P rice $ 0 .0 0 0 .5 0 1 .0 0 1 .5 0 2 .0 0 2 .5 0 3 .0 0
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Market Participants
★ Consumers
★ Business firms
★ Governments ★ Foreigners
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The Circular-Flow Model
★ The circular-flow model is a simple way to
visually show the economic transactions that
★ Ceteris paribus is a Latin phrase that means all variables other than the ones being studied are assumed to be constant. Literally, ceteris paribus means “other things being equal.” ★ The demand curve slopes downward because, ceteris paribus, lower prices imply a greater quantity demanded!
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Slope of a Curved Line
Y F
H
D
C G B
E
A
X
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Different Slopes of a Nonlinear Curve Y
Zero Slope Negative Slope Positive Slope
A
X
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The Market Forces of Supply and Demand
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8.Consumers: A. Provide dollars to the product market
B. Receive dollars from the product market
C. Provide dollars to the factor market D. Receive goods and services from the factor market 9.Producers: A. Provide dollars to the product market
英国人吉芬发现1845年爱尔兰发生灾荒，土豆价格上升，
但需求量却反而增加。 在当时被称为“吉芬难题”。
原因：土豆涨价引起英国靠工资生活的低收入者购买更多
的土豆，而不是买得更少。
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（2）炫耀性物品。 Conspicuous goods
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Change in Quantity Demanded versus Change in Demand
★ Change in Quantity Demanded
☆ Movement along the demand curve.
☆ Caused by a change in the price of the
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Demand
★ Quantity demanded
is the amount
of a good that buyers are
willing and able
to purchase.
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Demand Schedule
★ The demand schedule is a table
that shows the relationship
occur between consumers and firms in the
economy.
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The Circular-Flow Diagram
Revenue Goods & Services sold Spending
Product Markets
Goods & Services bought
Chapter 2
Supply and Demand
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Market Definition
★ A market is an arrangement whereby
buyers and sellers interact to determine the
prices and quantities of a commodity.
The income of the individual The Size of the Market
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Affordability
Movement along Demand Curve
需求定理的 —特例
（1）吉芬物品Giffen’s Goods ：
需求量与价格成同向变动的特殊商品。
P→Q
between the price of the good
and the quantity demanded.
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Demand Schedule
Price $0.00 0.50 1.00 1.50 2.00 2.50 3.00 Q uantity 12 10 8 6 4 2 0
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Demand Curve
Firms
Consumers
Inputs for production Wages, rent, and profit
Factor Markets
Labor, land, and capital Income
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Exercises:
1. Which of the following is a consumer goal? A. Satisfaction or happiness B. Profit C. Public welfare D. Efficiency
Shift of Demand Curve vs. Movement along the Demand Curve
Need
Fads & Fashion
His /Her expectation Shift of Demand Curve
Demand
The price of the commodity The prices and availability of related goods
product.
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Changes in Quantity Demanded
P
C
$4.00
2.00
A
D1
0
12
20
Qd
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Change in Quantity Demanded versus Change in Demand
★ Change in Demand
☆ A shift in the demand curve, either to the
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Demand Functions
★ Qd = f (P, M, Pr, T, Pe, N)
Qd = a + bP + cM + dPr+ eT + fPe + gN
Qd = f (P, M’, Pr’, T’, Pe’, N’)
Qd = f (P)
Qd = a - bP
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Ceteris Paribus
quantity demanded.
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Determinants of Demand
★ Market price (P)
★ Tastes (T)
★ Consumer income (M)
★ Expectations (Pe)
★ Number of buyers (N)
★ Other goods (Pr)
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4.Market participants include: A. Business firms and consumers but not foreigners B. Consumers only C. Consumers, business firms, governments and foreigners D. Foreigners but not business firms 5. Any place where factors of production are bought and
sold is a:
A. Private-goods market B. Stock market
C. Product market
D. Factor market
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来自百度文库
6. A market in which finished goods and services
are exchanged is a:
★ Buyers determine demand.
★ Sellers determine supply.
★ Supply and demand are the two words that economists use most often. ★ Supply and demand are the forces that make market economies work.