(微观经济学英文课件)Chap 4 Supply and Demand
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$3.00
2.50
2.00
1.50
1.00
0.50
3.Supply Curve
P ric e $ 0 .0 0 0 .5 0 1 .0 0 1 .5 0 2 .0 0 2 .5 0 3 .0 0
Q u a n tity 0 0 1 2 3 4 5
0 1 2 3 4 5 6 7 8 9 10 11 12
6.Market Demand
Market demand refers to the sum of all individual demands. Graphically, individual demand curves are summed horizontally to obtain the market demand curve.
Variables
Price
Consumer Income Prices of related goods Tastes Expectations Number of buyers
result
Represents a movement along the demand curve Shifts the demand curve
$3.00
Inferior Good
2.50 2.00 1.50 1.00
Decrease in demand
An increase in income...
0.50 01
D2
D1
2 3 4 5 6 7 8 9 10 11 12
Quantity of Ice-Cream Cones
Summary:
Monopoly,Oligopoly, Monopolistic Competition
Lesson 1 Demand
1.definition 2.Demand Schedule 3.Demand Curve 4.Law of Demand 5. Change in Quantity Demanded versus Change in Demand 6. Market Demand
1.definition
Quantity supplied is the amount of a good that sellers are willing and able to sell.
2.Supply Schedule
P ric e $ 0 .0 0
0 .5 0 1 .0 0 1 .5 0 2 .0 0 2 .5 0 3 .0 0
P1
D
Q1 Q2 Quantity
Measures quantity on the x-axis and price on the y-axis
QD f(P)
4.Law of Demand
The law of demand states that there is an inverse relationship between price and quantity demanded.
1.definition
Quantity demanded is the amount of a good that buyers are
willing and able to purchase.
2.Demand Schedule
Price Quantity
$0.50
10
1.00
8
1.50
6
2.00
Quantity of Ice-Cream Cones
The supply curve is the upwardsloping line relating price to quantity
supplied.
4.Law of Supply
The law of supply states that there is a direct (positive) relationship between price and quantity supplied.
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
(2)Change in Supply
Price of Ice-Cream Cone
S3
S1
S2
Decrease in Supply
Increase in Supply
2.00
1.50
1.00
Normal Good
Increase in demand
An increase in income...
0.50 01
D1
2 3 4 5 6 7 8 9 10 11 12
D2
Quantity of Ice-Cream Cones
Price of Ice-Cream Cone
0 .5 0 1 .0 0 1 .5 0 2 .0 0 2 .5 0 3 .0 0
Q u a n tity 19 16 13 10 7 4 1
P ric e $ 0 .0 0
0 .5 0 1 .0 0 1 .5 0 2 .0 0 2 .5 0 3 .0 0
Q u a n tity 0 0 1 4 7 10 13
A shift in the demand curve, either to the left or right.
Price of Ice-Cream Cone
0
Increase in demand
Decrease in demand
D3
D2 D1
Quantity of Ice-Cream Cones
(微观经济学英文课件）Chap 4 Supply and Demand
Markets
A market is a group of buyers and sellers of a particular good or service.
In this chapter, we assume market is Perfect Competition.
Other determinants of Supply
Input prices Technology Expectations Number of producers
5.Change in Quantity Supplied versus Change in Supply
(1)Change in Quantity Supplied
Can you summarize other determinants of Demand?
Consumer income Tastes Expectations Prices of related goods
related goods
Substitutes Complements
5.Change in Quantity Demanded versus Change in
4
2.50
2
3.00
0
ቤተ መጻሕፍቲ ባይዱ
The demand schedule is a table that shows the relationship
between the price of the good and the quantity demanded.
3.Demand Curve
Price of Ice-Cream Cone
Quantity of
0
Ice-Cream
Cones
A shift in the supply curve, either to the left or right.
Caused by a change in a determinant other than price.
summary
Variables
Smoked per Day
Movement along the demand curve. Caused by a change in the price.
(2)Changes in Demand
Caused by a change in a determinant other than the price.
$3.00
2.50
2.00
1.50
1.00
Price $
0.50 1.00 1.50 2.00 2.50 3.00
Quantity
10 8 6 4 2 0
0.50
0 1 2 3 4 5 6 7 8 9 10 11 12
Quantity of Ice-Cream Cones
The Demand Curve
Demand
(1)Changes in Quantity
Price of Cigarettes per Pack
$4.00
Demanded
Suppose a tax that
C
raises the price of cigarettes
2.00
0
12
A
D1
20
Number of Cigarettes
The demand for tomatoes (monthly)
(1) Price
(cents per kg)
(2) Tracey's demand
(kg)
(3) Darren's demand
(kg)
(4) Total market
demand
(kg)
A
200
8
16
B
400
6
15
C
600
4
14
Price
Input prices Technology Expectations Number of sellers
Reslut.
Represents a movement along the supply curve
Shifts the supply curve
6.Market 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.
Lesson 3: Equilibrium
The curves intersect at equilibrium, or market-clearing
Supply and Demand Together
Demand Schedule
Supply Schedule
P ric e $ 0 .0 0
such as:Consumer Income
if income increases the demand for a normal good will increase. But inferior good will decrease.
Price of Ice-Cream Cone
$3.00
2.50
Price of Ice-Cream Cone
$3.00
S
C A rise in the price of ice cream cones
A
1.00
0
1
Quantity of
5
Ice-Cream
Cones
Movement along the supply curve. Caused by a change in the market price of the product.
Q u a n tity 0 0 1 2 3 4 5
The supply schedule is a table that shows the relationship between the price of the good and the quantity
supplied.
Price of Ice-Cream Cone
D
800
2
13
E
1000
0
12
Lesson 2 :Supply
1.definition 2.Supply Schedule 3. Supply Curve 4.Law of Supply 5. Change in Quantity Supplied versus Change in Supply 6.Market Supply
Price ($ per unit)
P2
The demand curve slopes downward, demonstrating that consumers are willing to buy more at a lower price as the product becomes
relatively cheaper.
2.50
2.00
1.50
1.00
0.50
3.Supply Curve
P ric e $ 0 .0 0 0 .5 0 1 .0 0 1 .5 0 2 .0 0 2 .5 0 3 .0 0
Q u a n tity 0 0 1 2 3 4 5
0 1 2 3 4 5 6 7 8 9 10 11 12
6.Market Demand
Market demand refers to the sum of all individual demands. Graphically, individual demand curves are summed horizontally to obtain the market demand curve.
Variables
Price
Consumer Income Prices of related goods Tastes Expectations Number of buyers
result
Represents a movement along the demand curve Shifts the demand curve
$3.00
Inferior Good
2.50 2.00 1.50 1.00
Decrease in demand
An increase in income...
0.50 01
D2
D1
2 3 4 5 6 7 8 9 10 11 12
Quantity of Ice-Cream Cones
Summary:
Monopoly,Oligopoly, Monopolistic Competition
Lesson 1 Demand
1.definition 2.Demand Schedule 3.Demand Curve 4.Law of Demand 5. Change in Quantity Demanded versus Change in Demand 6. Market Demand
1.definition
Quantity supplied is the amount of a good that sellers are willing and able to sell.
2.Supply Schedule
P ric e $ 0 .0 0
0 .5 0 1 .0 0 1 .5 0 2 .0 0 2 .5 0 3 .0 0
P1
D
Q1 Q2 Quantity
Measures quantity on the x-axis and price on the y-axis
QD f(P)
4.Law of Demand
The law of demand states that there is an inverse relationship between price and quantity demanded.
1.definition
Quantity demanded is the amount of a good that buyers are
willing and able to purchase.
2.Demand Schedule
Price Quantity
$0.50
10
1.00
8
1.50
6
2.00
Quantity of Ice-Cream Cones
The supply curve is the upwardsloping line relating price to quantity
supplied.
4.Law of Supply
The law of supply states that there is a direct (positive) relationship between price and quantity supplied.
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
(2)Change in Supply
Price of Ice-Cream Cone
S3
S1
S2
Decrease in Supply
Increase in Supply
2.00
1.50
1.00
Normal Good
Increase in demand
An increase in income...
0.50 01
D1
2 3 4 5 6 7 8 9 10 11 12
D2
Quantity of Ice-Cream Cones
Price of Ice-Cream Cone
0 .5 0 1 .0 0 1 .5 0 2 .0 0 2 .5 0 3 .0 0
Q u a n tity 19 16 13 10 7 4 1
P ric e $ 0 .0 0
0 .5 0 1 .0 0 1 .5 0 2 .0 0 2 .5 0 3 .0 0
Q u a n tity 0 0 1 4 7 10 13
A shift in the demand curve, either to the left or right.
Price of Ice-Cream Cone
0
Increase in demand
Decrease in demand
D3
D2 D1
Quantity of Ice-Cream Cones
(微观经济学英文课件）Chap 4 Supply and Demand
Markets
A market is a group of buyers and sellers of a particular good or service.
In this chapter, we assume market is Perfect Competition.
Other determinants of Supply
Input prices Technology Expectations Number of producers
5.Change in Quantity Supplied versus Change in Supply
(1)Change in Quantity Supplied
Can you summarize other determinants of Demand?
Consumer income Tastes Expectations Prices of related goods
related goods
Substitutes Complements
5.Change in Quantity Demanded versus Change in
4
2.50
2
3.00
0
ቤተ መጻሕፍቲ ባይዱ
The demand schedule is a table that shows the relationship
between the price of the good and the quantity demanded.
3.Demand Curve
Price of Ice-Cream Cone
Quantity of
0
Ice-Cream
Cones
A shift in the supply curve, either to the left or right.
Caused by a change in a determinant other than price.
summary
Variables
Smoked per Day
Movement along the demand curve. Caused by a change in the price.
(2)Changes in Demand
Caused by a change in a determinant other than the price.
$3.00
2.50
2.00
1.50
1.00
Price $
0.50 1.00 1.50 2.00 2.50 3.00
Quantity
10 8 6 4 2 0
0.50
0 1 2 3 4 5 6 7 8 9 10 11 12
Quantity of Ice-Cream Cones
The Demand Curve
Demand
(1)Changes in Quantity
Price of Cigarettes per Pack
$4.00
Demanded
Suppose a tax that
C
raises the price of cigarettes
2.00
0
12
A
D1
20
Number of Cigarettes
The demand for tomatoes (monthly)
(1) Price
(cents per kg)
(2) Tracey's demand
(kg)
(3) Darren's demand
(kg)
(4) Total market
demand
(kg)
A
200
8
16
B
400
6
15
C
600
4
14
Price
Input prices Technology Expectations Number of sellers
Reslut.
Represents a movement along the supply curve
Shifts the supply curve
6.Market 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.
Lesson 3: Equilibrium
The curves intersect at equilibrium, or market-clearing
Supply and Demand Together
Demand Schedule
Supply Schedule
P ric e $ 0 .0 0
such as:Consumer Income
if income increases the demand for a normal good will increase. But inferior good will decrease.
Price of Ice-Cream Cone
$3.00
2.50
Price of Ice-Cream Cone
$3.00
S
C A rise in the price of ice cream cones
A
1.00
0
1
Quantity of
5
Ice-Cream
Cones
Movement along the supply curve. Caused by a change in the market price of the product.
Q u a n tity 0 0 1 2 3 4 5
The supply schedule is a table that shows the relationship between the price of the good and the quantity
supplied.
Price of Ice-Cream Cone
D
800
2
13
E
1000
0
12
Lesson 2 :Supply
1.definition 2.Supply Schedule 3. Supply Curve 4.Law of Supply 5. Change in Quantity Supplied versus Change in Supply 6.Market Supply
Price ($ per unit)
P2
The demand curve slopes downward, demonstrating that consumers are willing to buy more at a lower price as the product becomes
relatively cheaper.