经济学原理-曼昆第七版第四讲讲义：Supply-and-Demand知识讲解
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– Sellers as a group
• Determine the supply of the product
5
Markets and Competition
• Markets take many forms
– Highly organized
• Markets for many agricultural commodities
• Supply and demand
– Words economists use most often – The forces that make market economies
work – Refer to the behavior of people as they
interact with one another in competitive markets
• Other markets
– Between perfect competition and monopoly
9
Demand
• Quantity demanded
– Amount of a good that buyers are willing and able to purchase
• Law of demand
Chapter 4 Supply and Demand
Fall 2017
1
Questions
• If you are making real estate investment decisions, how would you predict the effect of the policy changes?
Cone
$0.00 0.50 1.00 1.50 2.00 2.50 3.00
Quantity of Cones
Demanded
12 cones 10 8 6 4 2 0
$3.00 2.50 2.00 1.50 1.00 0.50
1. A decrease in price . . .
2. . . . increases quantity of cones demanded.
– Other things equal – When the price of a good rises, the
quantity demanded of the good falls – When the price falls, the quantity
demanded rises
10
Demand
• Perfectly competitive market
– Goods offered for sale are all exactly the same
– Buyers and sellers are so numerous
• No single buyer or seller has any influence over the market price
• What are the real factor driving the residential housing price in China?
• What are the long-run perspectives of Chinese real estate markets?
2
Markets and Competition
• Individual demand
– An individual’s demand for a product
11
Figure 1
Catherine’s Demand Schedule and Demand Curve
Price of Ice-Cream Cones
Price of Ice-Cream
4
Markets and Competition
• Market
– A group of buyers and sellers of a particular good or service
– Buyers as a group
• Determine the demand for the product
• Demand
– Relationship between the price of a good and quantity demanded
– Demand schedule: a table – Demand curve: a graph
• Price on the vertical axis • Quantity on the horizontal axis
• Price takers
– At the market price
• Buyers can buy all they want • Sellers can sell all they want
8
Markets and Competition
• Monopoly
– The only seller in the market – Sets the price
Demand curve
0 1 2 3 4 5 6 7 8 9 10 11 12 Quantity of Ice-Cream Cones
The demand schedule is a table that shows the quantity demanded at each price. The demand curve, which graphs the demand schedule, illustrates how the quantity demanded of the good changes as its price varies. Because a lower price increases the quantity demanded, the demand curve slopes downward.
– Each has a negligible impact on market price
– Price and quantity are determined by all buyers and sellers
• As they interact in the marketplace
7
Markets and Competition
– Less organized
• Market for ice creaቤተ መጻሕፍቲ ባይዱ in a particular town
6
Markets and Competition
• Competitive market
– Market in which there are many buyers and many sellers
• Determine the supply of the product
5
Markets and Competition
• Markets take many forms
– Highly organized
• Markets for many agricultural commodities
• Supply and demand
– Words economists use most often – The forces that make market economies
work – Refer to the behavior of people as they
interact with one another in competitive markets
• Other markets
– Between perfect competition and monopoly
9
Demand
• Quantity demanded
– Amount of a good that buyers are willing and able to purchase
• Law of demand
Chapter 4 Supply and Demand
Fall 2017
1
Questions
• If you are making real estate investment decisions, how would you predict the effect of the policy changes?
Cone
$0.00 0.50 1.00 1.50 2.00 2.50 3.00
Quantity of Cones
Demanded
12 cones 10 8 6 4 2 0
$3.00 2.50 2.00 1.50 1.00 0.50
1. A decrease in price . . .
2. . . . increases quantity of cones demanded.
– Other things equal – When the price of a good rises, the
quantity demanded of the good falls – When the price falls, the quantity
demanded rises
10
Demand
• Perfectly competitive market
– Goods offered for sale are all exactly the same
– Buyers and sellers are so numerous
• No single buyer or seller has any influence over the market price
• What are the real factor driving the residential housing price in China?
• What are the long-run perspectives of Chinese real estate markets?
2
Markets and Competition
• Individual demand
– An individual’s demand for a product
11
Figure 1
Catherine’s Demand Schedule and Demand Curve
Price of Ice-Cream Cones
Price of Ice-Cream
4
Markets and Competition
• Market
– A group of buyers and sellers of a particular good or service
– Buyers as a group
• Determine the demand for the product
• Demand
– Relationship between the price of a good and quantity demanded
– Demand schedule: a table – Demand curve: a graph
• Price on the vertical axis • Quantity on the horizontal axis
• Price takers
– At the market price
• Buyers can buy all they want • Sellers can sell all they want
8
Markets and Competition
• Monopoly
– The only seller in the market – Sets the price
Demand curve
0 1 2 3 4 5 6 7 8 9 10 11 12 Quantity of Ice-Cream Cones
The demand schedule is a table that shows the quantity demanded at each price. The demand curve, which graphs the demand schedule, illustrates how the quantity demanded of the good changes as its price varies. Because a lower price increases the quantity demanded, the demand curve slopes downward.
– Each has a negligible impact on market price
– Price and quantity are determined by all buyers and sellers
• As they interact in the marketplace
7
Markets and Competition
– Less organized
• Market for ice creaቤተ መጻሕፍቲ ባይዱ in a particular town
6
Markets and Competition
• Competitive market
– Market in which there are many buyers and many sellers