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Hyperppt
 

Hyperppt

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    Hyperppt Hyperppt Presentation Transcript

    • What factors affect demand? Action buttons allow easy access tocommonly used slides from any point in presentation. Increase in demand graph Decrease in demand graph
    • Number of Buyers Prices of other Price goodsIncome Determinants of Quality DemandExpectationsabout future Supply? Tastes Increase in demand graph Decrease in demand graph
    • Determinants of Prices of other Price Demand goods Expectations Quality Income about future Number of Tastes Supply? Buyers Increase in demand graph Decrease in demand graph
    • Slide Show Presentation• Information presented in linear fashion.• Professor determines content, depth, and order of presentation.• Allows for little flexibility.• Students make few choices about direction of lecture.• Difficult to switch back and forth between topics. Increase in demand graph Decrease in demand graph
    • Using Action Settings • Any object can be used to link to another page in the PowerPoint presentation or an external web page. • Assign “Action Settings” in Slide Show menu. Increase in demand graph Decrease in demand graph
    • Using Action Settings• By assigning an • Any object can be used actions to objects in to link to another page in a presentation, a the PowerPoint PowerPoint presentation or an presentation is external web page. transformed from a • Assign “Action Slide Show into an Settings” in Slide Show interaction web menu. page. Increase in demand graph Decrease in demand graph
    • Using Action Settings• By assigning an actions to objects in a presentation, a PowerPoint presentation is transformed from a Slide Show into an interactive web page.• Any object can be used to link to another page in the PowerPoint presentation or an external web page.• Assign “Action Settings” in Slide Show menu. Increase in demand graph Decrease in demand graph
    • Hyperlink Presentation• Information presented in non-linear fashion.• Professor determines content. Students and professor determine depth and order.• Allows for more flexibility.• Students make choices about direction of lecture.• Easy to switch back and forth between topics or commonly used slides. Increase in demand graph Decrease in demand graph
    • Price• Price is the most important determinant of demand.• A “demand curve” plots combinations of prices and quantity demanded.• A shift in price causes a shift along the demand curve Increase in demand graph Decrease in demand graph
    • Price (continued)• A change in price causes a shift along the demand curve.• A shift along the demand curve is referred to as a “shift in the quantity demanded.”• A shift in any other variable except price causes a shift in the entire demand curve.• A shift in the entire demand curve is referred to as a “shift in demand.” Increase in demand graph Decrease in demand graph
    • Income• Changes in income can increase or decrease demand.• A good whose demand decreases with an increase in income is called an “inferior good.”• A good whose demand increases with an increase in income is called a “normal good.” Increase in demand graph Decrease in demand graph
    • Examples of changes in income• An increase in income will reduce the demand for ramen noodles or generic products.• An increase in income will increase the demand for cars or clothing.• An increase in income will significantly increase the demand for air travel or jewelry. Increase in demand graph Decrease in demand graph
    • Prices of other goods• Changes in the prices of other goods can increase or decrease demand.• A good that causes an increase in the demand for another good when its price increases is called a “substitute good.”• A good that causes a decrease in the demand for another good when its price increases is called a “complementary good.” Increase in demand graph Decrease in demand graph
    • Examples of changes in other prices• An increase in the price of peanut butter will reduce the demand for jelly. Peanut butter and jelly are complements.• An increase in the price of Pepsi will increase the demand for Coke. Pepsi and Coke are substitutes. Increase in demand graph Decrease in demand graph
    • Number of buyers• An increase in the number of potential buyers will increase the demand for the good.• For example, the demand for land increases as the population increases.• Similarly baseball tickets are generally more expensive in larger cities. Increase in demand graph Decrease in demand graph
    • Future Prices• An increase in the expected future price of a good increases current demand.• A decrease in the expected future price of a good decreases current demand.• For example, when a good is temporarily put on sale, people stock up on the good. Increase in demand graph Decrease in demand graph
    • Tastes• Demand curves can shift due to changes in tastes over time.• For example, demand for cereal may be high in the morning but low at night.• Similarly, demand for Saturday Night Fever CDs may be high in the 1970s but low in the 2000s. Increase in demand graph Decrease in demand graph
    • Quality• Demand curves can shift due to changes quality.• At a given price, demand for Giordano’s pizza is higher than the demand for Papa John’s.• Similarly, CDs cost more than cassettes because the music is of higher quality. Increase in demand graph Decrease in demand graph
    • Supply?• Demand curves do not shift due to changes supply.• Shifts in supply change the equilibrium price causing a shift along the demand curve.• Shifts in supply cause a change in the quantity demand not a shift in the demand curve. Increase in demand graph Decrease in demand graph
    • Graph of a supply shift • An decrease in 40 supply shifts the 35 supply curve to 30 25 the left. 20Price 15 10 • Equilibrium 5 0 price increases. 0 2000 4000 6000 8000 10000 12000 14000 • Quantity Quantity demanded Old demand New supply Supply decreases. Increase in demand graph Decrease in demand graph
    • Increase in demand • An increase in 40 demand shifts the 35 demand curve to 30 25 the right. 20 • Equilibrium pricePrice 15 10 5 increases. 0 • Quantity demanded 0 2000 4000 6000 8000 10000 12000 14000 Quantity increases. Old demand New demand Supply Increase in demand graph Decrease in demand graph
    • Decrease in demand • A decrease in 40 demand shifts 35 30 the demand 25 20 curve to the left.Price 15 10 • Equilibrium 5 price falls. 0 0 2000 4000 6000 8000 10000 12000 14000 • Quantity Quantity demanded falls. Old demand New demand Supply Increase in demand graph Decrease in demand graph