2. Apple unveils digital textbooks app for
iPad
NEW YORK—Apple is taking aim at the textbook
market.
The California-based gadget-maker unveiled a
free iBooks 2 application for the iPad on
Thursday that brings interactive textbooks to
the popular tablet computer.
“Education is deep in Apple’s DNA,” said Philip
Schiller, Apple’s senior vice president of
marketing. “With iBooks 2 for iPad, students
have a more dynamic, engaging and truly
interactive way to read and learn.”
He said the iPad is “rapidly being adopted by
schools across the US and around the world”
and 1.5 million iPads are already being used in
educational institutions.
3. Be a market analyst!
• Analyze if the situation illustrates
equilibrium, shortage, or surplus
• Long line of customers on a small but
famous foodstore
• Pile of garbage from a plastic company
• A mother bought from a store 10kilos of
price at the price of 38/kilo
• Job fair at MOA was full of people
• 70% inventory sale of a factory
• A company and a union of workers agreed
to a new salary scheme
4. Review
• Find the Equilibrium Price (EP) and
Equilibrium Quantity (EQ) by using
the formula:
Qd= 100- 10p ; Qs= - 20 + 10p
Using the formula, create a market
schedule at the following prices:
4,5,7 and identify the market
conditions.
5. Changes in Market equilibrium
• When supply and demand curves shift, the
equlibrium price and quantity changes
• There are possible scenarios: it could be
• CHANGE IN DEMAND WHILE THE SUPPLY IS
CONSTANT
• CHANGE IN SUPPLY WHILE DEMAND IS
CONSTANT
6. Remember the non-price factors
• Demand • Supply
• Income (Normal and • Technology
Inferior good) • Expectation
• Occasion • Number of sellers
• Preference • Cost of production
• Population • Price of related
• Expectation products
• Price of related • Subsidy
products : substitute • Weather/ climate
and complement
