Demand, supply, & prices (1)
•Download as PPTX, PDF•
0 likes•46 views
1. Market equilibrium occurs when the quantity demanded equals the quantity supplied at the equilibrium price. A shortage or surplus results when these quantities are not equal. 2. When demand or supply changes, the equilibrium price adjusts accordingly. An increase in demand raises price, while an increase in supply lowers price. 3. Government policies like price ceilings and price floors can disrupt market equilibrium by creating shortages or surpluses. Price ceilings set below the equilibrium price result in shortages, while price floors set above equilibrium price create surpluses.
Report
Share
Report
Share
Recommended
Chapter 13.2
This document contains notes from an economics class lecture on inflation. It defines inflation as a general rise in prices rather than a rise in value. It discusses how economists use price indexes like the Consumer Price Index to measure inflation. It then outlines several theories of what causes inflation, such as too much money in the economy (quantity theory) or increases in production costs (cost-push theory). It also describes some effects of inflation like erosion of purchasing power and profits from interest.
Macro 13
This document discusses macroeconomic concepts like real GDP growth rate, inflation rate, aggregate supply curves, and aggregate demand curves. It provides information on key economists like Adam Smith and John Maynard Keynes. Examples are given of factors that can cause the aggregate supply and demand curves to shift, and how these shifts impact equilibrium inflation and real GDP levels. Quiz questions assess the direction and magnitude of inflation and output changes given shifts to aggregate demand or supply.
Macro 10
This document discusses macroeconomic concepts related to GDP and the price level. It introduces the aggregate demand curve, which slopes downward, and the aggregate supply curves - the short-run aggregate supply curve, which slopes upward due to sticky wages and prices, and the long-run aggregate supply curve, which is vertical. In the long run, aggregate supply can shift right due to new capital in areas like physical, financial, human, and intellectual capital. The document also discusses how shifts in aggregate demand and supply impact output and price levels in both the short-run and long-run using the AD-AS model.
Price Control
The document discusses governmental imposition of price controls through price ceilings and price floors and their effects on market equilibrium. [1] A price ceiling sets a maximum price that can be charged for a good and often results in a shortage if set below equilibrium price. [2] A price floor sets a minimum price and often leads to a surplus if set above equilibrium price. [3] Both price ceilings and floors can introduce inefficiencies in the market allocation of goods and resources.
Macro 9
This document covers topics related to macroeconomics including the economic cycle, recessions, depressions, GDP, unemployment, interest rates, and the AD-AS model. It discusses key macroeconomic variables and how they fluctuate together over the economic cycle. It also explains the differences between real and nominal values, and how the price level can change without affecting real output. The document contrasts classical and new views of how money interacts with the real economy in the long and short run.
Economic equilibrium
economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.
Learn how to mathematically solve for the equilibrium price and quantity in a market when given specific supply and demand curves.
Higher prices tend to reduce demand while encouraging supply, and lower prices increase demand while discouraging supply. Economic theory suggests that, in a free market there will be a single price which brings demand and supply into balance, called equilibrium price.
Macro 12
This document provides an overview of macroeconomics concepts including:
1) It discusses two macroeconomic headaches - unemployment and inflation. It introduces the AD-AS model to understand how these factors interact.
2) It explains aggregate demand and how it can shift due to factors like money supply, wealth, taxes, government spending, exports and imports.
3) It also explains aggregate supply and how it is determined by productive capital which can be impacted by things like weather, costs of production, technology and regulations.
4) It includes a quiz example using the AD-AS model to show the relationship between inflation, GDP growth and changes in the money supply and velocity of money.
A project report on declined sales of citrus
The document discusses declining citrus fruit sales at a large US retailer. Possible causes of the 50% year-over-year sales dip are analyzed from macroeconomic and microeconomic perspectives. Macro factors like national income, inflation, and interest rates impact consumer spending and could explain the dip if the US economy is improving. Micro factors like supply and demand dynamics, store location and foot traffic, and competitive promotions may also be contributing if demand has shifted away from oranges and lemons. The conclusion is that both macroeconomic cycles and microeconomic forces could be driving the temporary sales phenomenon.
Recommended
Chapter 13.2
This document contains notes from an economics class lecture on inflation. It defines inflation as a general rise in prices rather than a rise in value. It discusses how economists use price indexes like the Consumer Price Index to measure inflation. It then outlines several theories of what causes inflation, such as too much money in the economy (quantity theory) or increases in production costs (cost-push theory). It also describes some effects of inflation like erosion of purchasing power and profits from interest.
Macro 13
This document discusses macroeconomic concepts like real GDP growth rate, inflation rate, aggregate supply curves, and aggregate demand curves. It provides information on key economists like Adam Smith and John Maynard Keynes. Examples are given of factors that can cause the aggregate supply and demand curves to shift, and how these shifts impact equilibrium inflation and real GDP levels. Quiz questions assess the direction and magnitude of inflation and output changes given shifts to aggregate demand or supply.
Macro 10
This document discusses macroeconomic concepts related to GDP and the price level. It introduces the aggregate demand curve, which slopes downward, and the aggregate supply curves - the short-run aggregate supply curve, which slopes upward due to sticky wages and prices, and the long-run aggregate supply curve, which is vertical. In the long run, aggregate supply can shift right due to new capital in areas like physical, financial, human, and intellectual capital. The document also discusses how shifts in aggregate demand and supply impact output and price levels in both the short-run and long-run using the AD-AS model.
Price Control
The document discusses governmental imposition of price controls through price ceilings and price floors and their effects on market equilibrium. [1] A price ceiling sets a maximum price that can be charged for a good and often results in a shortage if set below equilibrium price. [2] A price floor sets a minimum price and often leads to a surplus if set above equilibrium price. [3] Both price ceilings and floors can introduce inefficiencies in the market allocation of goods and resources.
Macro 9
This document covers topics related to macroeconomics including the economic cycle, recessions, depressions, GDP, unemployment, interest rates, and the AD-AS model. It discusses key macroeconomic variables and how they fluctuate together over the economic cycle. It also explains the differences between real and nominal values, and how the price level can change without affecting real output. The document contrasts classical and new views of how money interacts with the real economy in the long and short run.
Economic equilibrium
economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.
Learn how to mathematically solve for the equilibrium price and quantity in a market when given specific supply and demand curves.
Higher prices tend to reduce demand while encouraging supply, and lower prices increase demand while discouraging supply. Economic theory suggests that, in a free market there will be a single price which brings demand and supply into balance, called equilibrium price.
Macro 12
This document provides an overview of macroeconomics concepts including:
1) It discusses two macroeconomic headaches - unemployment and inflation. It introduces the AD-AS model to understand how these factors interact.
2) It explains aggregate demand and how it can shift due to factors like money supply, wealth, taxes, government spending, exports and imports.
3) It also explains aggregate supply and how it is determined by productive capital which can be impacted by things like weather, costs of production, technology and regulations.
4) It includes a quiz example using the AD-AS model to show the relationship between inflation, GDP growth and changes in the money supply and velocity of money.
A project report on declined sales of citrus
The document discusses declining citrus fruit sales at a large US retailer. Possible causes of the 50% year-over-year sales dip are analyzed from macroeconomic and microeconomic perspectives. Macro factors like national income, inflation, and interest rates impact consumer spending and could explain the dip if the US economy is improving. Micro factors like supply and demand dynamics, store location and foot traffic, and competitive promotions may also be contributing if demand has shifted away from oranges and lemons. The conclusion is that both macroeconomic cycles and microeconomic forces could be driving the temporary sales phenomenon.
Supply and market equilibriun
The document discusses the economic concepts of supply, determinants of supply, the law of supply, supply schedules and curves, market versus individual supply, equilibrium of supply and demand, and how shifts in supply and demand curves impact equilibrium price and quantity. It provides examples of supply and demand schedules and equilibrium, and how excess supply or demand can lead to changes in price until equilibrium is restored. It also includes 10 examples of how changes in factors can shift supply and demand curves and impact price and quantity.
Applied economics week 3 (market demand.supply equilibrium).pptx
This document discusses key concepts in market economics including market demand, market supply, and market equilibrium. It defines market demand as the total quantity of a good or service consumers are willing to purchase at different prices, and market supply as the total quantity producers are willing to provide at different prices. The document explains that market equilibrium occurs when quantity supplied equals quantity demanded, which is where the supply and demand curves intersect on a graph. It outlines the laws of supply and demand and how equilibrium price is established through the interaction of supply and demand forces.
Pe supply & demand student
The document discusses the concepts of supply and demand in markets. It defines demand as the desire, ability, and willingness to buy a product, which is represented by a demand schedule and demand curve. The law of demand states that price and quantity demanded have an inverse relationship. Supply is defined as the quantity of a good producers will offer for sale at a given price, represented by a supply schedule and supply curve. The law of supply says price and quantity supplied have a direct relationship. Equilibrium occurs when quantity supplied equals quantity demanded at the market clearing price. [/SUMMARY]
Market Equilibrium Micro Economics ECO101
This document provides an overview of key concepts in microeconomics including markets, supply and demand, equilibrium, consumer and producer surplus, and the effects of changes in supply and demand. It defines markets, demand, the law of demand, supply, the law of supply, and equilibrium. It also discusses consumer surplus, producer surplus, surpluses and shortages, and the effects of price ceilings and floors.
7.4
This document provides an overview of key concepts in supply and demand including:
1) Equilibrium occurs where supply and demand curves intersect, establishing the equilibrium price.
2) Shifts in supply or demand curves alter the equilibrium price by creating shortages or surpluses that prices then adjust to correct.
3) Price controls like price floors and ceilings can disrupt market equilibrium and create unintended consequences like shortages, surpluses, or black markets.
Lecture3
1. The document discusses demand, supply, and equilibrium in markets. It defines demand as the quantity of a product consumers will purchase at various prices, and supply as the quantity producers will provide.
2. The law of demand and supply state that demand is inversely related to price, while supply is directly related. Equilibrium occurs where quantity demanded equals quantity supplied.
3. Changes in demand or supply curves can shift them, disrupting equilibrium and causing shortages or surpluses until a new equilibrium is reached. Factors like income, tastes, and input costs influence demand and supply conditions.
Goal 8 supply and demand changes
The document discusses the concepts of supply and demand. It defines key terms like demand, quantity demanded, demand schedules, the law of demand, elasticity of demand, supply, quantity supplied, supply schedules, and the law of supply. It explains how demand and supply interact to determine equilibrium price and quantity in a market. When demand or supply changes, there is a new equilibrium. The document provides examples of how various factors can cause changes in demand or supply.
Goal 8 supply and demand changes
The document discusses the concepts of supply and demand. It defines key terms like demand, quantity demanded, demand schedules, the law of demand, elasticity of demand, supply, quantity supplied, supply schedules, and the law of supply. It explains how demand and supply interact to determine equilibrium price and quantity in a market. When demand or supply changes, there is a new equilibrium. The document provides examples of how factors like input costs, number of suppliers, or weather can impact supply.
2. demand and supply
This document provides an overview of demand and supply concepts:
1) It defines demand as the quantity of a product consumers wish to purchase based on price and other factors, and explains how individual demand curves aggregate to form market demand.
2) Supply is defined as the quantity producers wish to sell based on factors like costs of production.
3) The interaction of demand and supply forces in markets determines the market price through the forces of demand seeking to purchase more at lower prices and supply seeking to sell more at higher prices.
4) Shifts in demand or supply curves can occur due to changes in the underlying determinants, resulting in changes to market equilibrium price and quantity.
Ch6 suppy demand & gov't policy
Economics is the study of how individuals and societies allocate scarce resources. It seeks to explain human behavior and choices under conditions of scarcity and uncertainty. The fundamental problem of economics is scarcity - human wants are unlimited but resources are limited. This forces individuals and societies to make choices. Microeconomics examines choices of individual agents like consumers, firms and workers, while macroeconomics looks at aggregate outcomes for an overall economy like growth, employment and inflation. Equilibrium in a market occurs where quantity supplied equals quantity demanded at a single price, while surpluses and shortages occur when these are not equal. Government policies like price controls and taxes can alter market equilibrium by shifting supply and demand curves.
Equilibrium Powerpoint.pptx
This document discusses market equilibrium and how supply and demand interact to reach equilibrium. It provides an example where the equilibrium price is $3 and the equilibrium quantity is 30 units. It then explains how a change in factors that influence supply, such as new technology or higher input prices, can cause the supply curve to shift, changing the equilibrium price and quantity. Specifically, it states that new technology makes production easier and leads to a rightward supply shift, while higher input prices make production more costly and lead to a leftward supply shift.
Unit #2 student notes
The document discusses supply and demand fundamentals including:
1. It defines supply and demand as the amounts that consumers are willing/able to buy (demand) and that producers are willing/able to sell (supply) at various prices.
2. The law of demand and law of supply state that demand is inversely related to price while supply is directly related.
3. Equilibrium occurs when quantity demanded equals quantity supplied at the equilibrium price.
4. Disequilibrium can occur in the form of shortages when price is below equilibrium or surpluses when price is above. The market works to move back to equilibrium.
Supply & demand pe student notes
The document discusses supply and demand. It defines demand as the quantity consumers are willing and able to purchase at different prices. The law of demand states that quantity demanded increases when price decreases. Demand can shift due to factors like income, tastes, or prices of substitutes. Supply is defined as the quantity producers are willing to supply at different prices. The law of supply states that quantity supplied increases when price increases. Supply can shift due to costs of production, number of producers, or technology. Equilibrium occurs where quantity supplied equals quantity demanded. Disequilibrium results in shortages or surpluses which push prices toward the equilibrium level.
microeconomics - princ-ch04-presentation.ppt
This document provides an overview of supply and demand in economics. It discusses key concepts like:
- Demand is affected by factors like price, income, tastes, and the prices of related goods. The demand curve shows the relationship between price and quantity demanded.
- Supply is affected by factors like input prices, technology, and the number of sellers. The supply curve shows the relationship between price and quantity supplied.
- Equilibrium price and quantity are determined by the intersection of supply and demand in the market. Changes in supply or demand shift the curves and result in a new equilibrium.
The document uses examples and diagrams to illustrate these concepts and how markets allocate resources through the interaction of supply and demand.
5.-Teori-Permintaan-dan-Penawaran.pdf
This document provides an overview of supply and demand in economics. It discusses key concepts like:
- Demand is affected by factors like price, income, tastes, and the prices of related goods. The demand curve shows the relationship between price and quantity demanded.
- Supply is affected by factors like input prices, technology, and the number of sellers. The supply curve shows the relationship between price and quantity supplied.
- Equilibrium price and quantity are determined by the intersection of supply and demand in the market. Changes in supply or demand shift the curves and result in a new equilibrium.
The document uses examples and diagrams to illustrate these concepts and how markets allocate resources through the interaction of supply and demand.
Economics Basics
- Economics is the study of how individuals and societies use limited resources to satisfy unlimited wants, dealing with the fundamental problem of scarcity. This requires opportunity cost tradeoffs between competing alternatives.
- Positive economics attempts to describe the economy through testable hypotheses, while normative economics relies on value judgments to evaluate policies. Economists use the scientific method and strive for Pareto efficiency.
- Microeconomics studies individual decisions and markets, while macroeconomics analyzes aggregate markets and the whole economy. Supply and demand determine prices in competitive markets.
Market Determinants (Lecture)
This document discusses the key determinants of supply and demand in markets, including laws of supply and demand, factors that influence supply curves like costs and technology, and factors that influence demand curves like income, tastes, and number of buyers. Understanding these determinants allows one to predict how prices and quantities will change in response to events in the market.
Sheet1Quantity (miles of pipeline)Total CostTotal Fixed CostTotal .docx
Sheet1Quantity (miles of pipeline)Total CostTotal Fixed CostTotal Variable CostAverage Fixed CostAverage Variable CostMarginal Cost0$ 5,000$ 5,0001,000$ 11,5732,000$ 18,2083,000$ 29,2674,000$ 44,7505,000$ 64,6576,000$ 88,9877,000$ 117,7408,000$ 150,9189,000$ 188,51810,000$ 230,54311,000$ 276,99112,000$ 327,86313,000$ 383,15914,000$ 442,87815,000$ 507,02116,000$ 575,58717,000$ 648,57718,000$ 725,99119,000$ 807,82820,000$ 894,08921,000$ 984,77422,000$ 1,079,88223,000$ 1,179,41424,000$ 1,283,37025,000$ 1,391,74926,000$ 1,504,55227,000$ 1,621,77828,000$ 1,743,42929,000$ 1,869,50230,000$ 2,000,000
Week 4
Will Fence owns a 70-acre large timber and Christmas tree farm. The Christmas farm gets busy in August and September when Will identifies and flags the trees suitable for Christmas season. Starting in October, the flagged trees will be cut, baled, and trucked to the storage yard where they will stay until shipped. The storage yard is situated in an area that offers shade and protection from the wind to maintain the freshness of the tree. The trees are stacked with the tops locked together to keep the sun and wind away from them.
Will has just purchased an additional 40 acres and will need to expand his storage yard by 40,000 square feet. The budget for this expansion is $55,000. Will has hired your team to design a process to contract resources to expand the storage yard.
Cover the following as requested by Will:
· Description of the contract resource procurement process (from start to closure).
· Explanation of how the contract resources procurement process that was described will assist Will in negotiating the best purchase.
· Explanation to Will why the team believes the process is efficient and achieves the results desired.
· Identification of any risks associated with procuring these resources and explanation of the role of risk management in this process.
· Explanation of how the process may be improved upon.
· Other recommendations the team may have for Will to consider.
Graphing Supply and Demand
Supply and demand are so important for both consumers and producers
because both of these concepts work together to determine the overall price
of an item, as well as the total quantity sold in a market. To see how this
works, we can show both on a graph such as you see in the header image
above.
Remember that demand is a relationship between price and the quantity that
consumers are willing and able to pay. This is an inverse, or negative,
relationship, in which the variable's price and quantity move in opposite
directions. This would be depicted as a downward sloping curve on a graph.
Similarly, supply is a relationship between the price of an item and the
quantity that producers are willing to supply. This is a direct, or positive,
relationship, in which the variable's price and quantity move in the same
direction. This would be depicted as an u.
Chap2
This document provides an overview of demand, supply, and market equilibrium concepts. It defines key terms like demand curve, supply curve, equilibrium price and quantity. It explains how shifts in demand or supply curves affect equilibrium. Specifically:
1) The law of demand and supply are introduced, which state that quantity demanded increases with lower price and quantity supplied increases with higher price.
2) Market equilibrium exists when quantity demanded equals quantity supplied. Disequilibrium can cause surplus or shortage.
3) A shift of the demand or supply curve changes the equilibrium price and quantity in the market. Both curves shifting can have different effects depending on the direction and magnitude of the shifts.
Chap2
This document provides an overview of demand, supply, and market equilibrium concepts. It defines key terms like demand curve, supply curve, equilibrium price and quantity. It explains how shifts in demand or supply curves affect equilibrium. Specifically:
1) The law of demand and supply are introduced, which state that quantity demanded increases with lower price and quantity supplied increases with higher price.
2) Market equilibrium exists when quantity demanded equals quantity supplied. Disequilibrium can cause surplus or shortage.
3) A shift of the demand or supply curve changes the equilibrium price and quantity in the market. Both curves shifting can have varying effects depending on the direction and magnitude of the shifts.
How to Manage Reception Report in Odoo 17
A business may deal with both sales and purchases occasionally. They buy things from vendors and then sell them to their customers. Such dealings can be confusing at times. Because multiple clients may inquire about the same product at the same time, after purchasing those products, customers must be assigned to them. Odoo has a tool called Reception Report that can be used to complete this assignment. By enabling this, a reception report comes automatically after confirming a receipt, from which we can assign products to orders.
KHUSWANT SINGH.pptx ALL YOU NEED TO KNOW ABOUT KHUSHWANT SINGH
INDIA`S OWN LITERARY GENIUS MR.KHUSHWANT SINGH WAS TRULY A VERY BRAVE SOUL AND WAS AWARDED WITH THE MAGIC OF WORDS BY GOD.
More Related Content
Similar to Demand, supply, & prices (1)
Supply and market equilibriun
The document discusses the economic concepts of supply, determinants of supply, the law of supply, supply schedules and curves, market versus individual supply, equilibrium of supply and demand, and how shifts in supply and demand curves impact equilibrium price and quantity. It provides examples of supply and demand schedules and equilibrium, and how excess supply or demand can lead to changes in price until equilibrium is restored. It also includes 10 examples of how changes in factors can shift supply and demand curves and impact price and quantity.
Applied economics week 3 (market demand.supply equilibrium).pptx
This document discusses key concepts in market economics including market demand, market supply, and market equilibrium. It defines market demand as the total quantity of a good or service consumers are willing to purchase at different prices, and market supply as the total quantity producers are willing to provide at different prices. The document explains that market equilibrium occurs when quantity supplied equals quantity demanded, which is where the supply and demand curves intersect on a graph. It outlines the laws of supply and demand and how equilibrium price is established through the interaction of supply and demand forces.
Pe supply & demand student
The document discusses the concepts of supply and demand in markets. It defines demand as the desire, ability, and willingness to buy a product, which is represented by a demand schedule and demand curve. The law of demand states that price and quantity demanded have an inverse relationship. Supply is defined as the quantity of a good producers will offer for sale at a given price, represented by a supply schedule and supply curve. The law of supply says price and quantity supplied have a direct relationship. Equilibrium occurs when quantity supplied equals quantity demanded at the market clearing price. [/SUMMARY]
Market Equilibrium Micro Economics ECO101
This document provides an overview of key concepts in microeconomics including markets, supply and demand, equilibrium, consumer and producer surplus, and the effects of changes in supply and demand. It defines markets, demand, the law of demand, supply, the law of supply, and equilibrium. It also discusses consumer surplus, producer surplus, surpluses and shortages, and the effects of price ceilings and floors.
7.4
This document provides an overview of key concepts in supply and demand including:
1) Equilibrium occurs where supply and demand curves intersect, establishing the equilibrium price.
2) Shifts in supply or demand curves alter the equilibrium price by creating shortages or surpluses that prices then adjust to correct.
3) Price controls like price floors and ceilings can disrupt market equilibrium and create unintended consequences like shortages, surpluses, or black markets.
Lecture3
1. The document discusses demand, supply, and equilibrium in markets. It defines demand as the quantity of a product consumers will purchase at various prices, and supply as the quantity producers will provide.
2. The law of demand and supply state that demand is inversely related to price, while supply is directly related. Equilibrium occurs where quantity demanded equals quantity supplied.
3. Changes in demand or supply curves can shift them, disrupting equilibrium and causing shortages or surpluses until a new equilibrium is reached. Factors like income, tastes, and input costs influence demand and supply conditions.
Goal 8 supply and demand changes
The document discusses the concepts of supply and demand. It defines key terms like demand, quantity demanded, demand schedules, the law of demand, elasticity of demand, supply, quantity supplied, supply schedules, and the law of supply. It explains how demand and supply interact to determine equilibrium price and quantity in a market. When demand or supply changes, there is a new equilibrium. The document provides examples of how various factors can cause changes in demand or supply.
Goal 8 supply and demand changes
The document discusses the concepts of supply and demand. It defines key terms like demand, quantity demanded, demand schedules, the law of demand, elasticity of demand, supply, quantity supplied, supply schedules, and the law of supply. It explains how demand and supply interact to determine equilibrium price and quantity in a market. When demand or supply changes, there is a new equilibrium. The document provides examples of how factors like input costs, number of suppliers, or weather can impact supply.
2. demand and supply
This document provides an overview of demand and supply concepts:
1) It defines demand as the quantity of a product consumers wish to purchase based on price and other factors, and explains how individual demand curves aggregate to form market demand.
2) Supply is defined as the quantity producers wish to sell based on factors like costs of production.
3) The interaction of demand and supply forces in markets determines the market price through the forces of demand seeking to purchase more at lower prices and supply seeking to sell more at higher prices.
4) Shifts in demand or supply curves can occur due to changes in the underlying determinants, resulting in changes to market equilibrium price and quantity.
Ch6 suppy demand & gov't policy
Economics is the study of how individuals and societies allocate scarce resources. It seeks to explain human behavior and choices under conditions of scarcity and uncertainty. The fundamental problem of economics is scarcity - human wants are unlimited but resources are limited. This forces individuals and societies to make choices. Microeconomics examines choices of individual agents like consumers, firms and workers, while macroeconomics looks at aggregate outcomes for an overall economy like growth, employment and inflation. Equilibrium in a market occurs where quantity supplied equals quantity demanded at a single price, while surpluses and shortages occur when these are not equal. Government policies like price controls and taxes can alter market equilibrium by shifting supply and demand curves.
Equilibrium Powerpoint.pptx
This document discusses market equilibrium and how supply and demand interact to reach equilibrium. It provides an example where the equilibrium price is $3 and the equilibrium quantity is 30 units. It then explains how a change in factors that influence supply, such as new technology or higher input prices, can cause the supply curve to shift, changing the equilibrium price and quantity. Specifically, it states that new technology makes production easier and leads to a rightward supply shift, while higher input prices make production more costly and lead to a leftward supply shift.
Unit #2 student notes
The document discusses supply and demand fundamentals including:
1. It defines supply and demand as the amounts that consumers are willing/able to buy (demand) and that producers are willing/able to sell (supply) at various prices.
2. The law of demand and law of supply state that demand is inversely related to price while supply is directly related.
3. Equilibrium occurs when quantity demanded equals quantity supplied at the equilibrium price.
4. Disequilibrium can occur in the form of shortages when price is below equilibrium or surpluses when price is above. The market works to move back to equilibrium.
Supply & demand pe student notes
The document discusses supply and demand. It defines demand as the quantity consumers are willing and able to purchase at different prices. The law of demand states that quantity demanded increases when price decreases. Demand can shift due to factors like income, tastes, or prices of substitutes. Supply is defined as the quantity producers are willing to supply at different prices. The law of supply states that quantity supplied increases when price increases. Supply can shift due to costs of production, number of producers, or technology. Equilibrium occurs where quantity supplied equals quantity demanded. Disequilibrium results in shortages or surpluses which push prices toward the equilibrium level.
microeconomics - princ-ch04-presentation.ppt
This document provides an overview of supply and demand in economics. It discusses key concepts like:
- Demand is affected by factors like price, income, tastes, and the prices of related goods. The demand curve shows the relationship between price and quantity demanded.
- Supply is affected by factors like input prices, technology, and the number of sellers. The supply curve shows the relationship between price and quantity supplied.
- Equilibrium price and quantity are determined by the intersection of supply and demand in the market. Changes in supply or demand shift the curves and result in a new equilibrium.
The document uses examples and diagrams to illustrate these concepts and how markets allocate resources through the interaction of supply and demand.
5.-Teori-Permintaan-dan-Penawaran.pdf
This document provides an overview of supply and demand in economics. It discusses key concepts like:
- Demand is affected by factors like price, income, tastes, and the prices of related goods. The demand curve shows the relationship between price and quantity demanded.
- Supply is affected by factors like input prices, technology, and the number of sellers. The supply curve shows the relationship between price and quantity supplied.
- Equilibrium price and quantity are determined by the intersection of supply and demand in the market. Changes in supply or demand shift the curves and result in a new equilibrium.
The document uses examples and diagrams to illustrate these concepts and how markets allocate resources through the interaction of supply and demand.
Economics Basics
- Economics is the study of how individuals and societies use limited resources to satisfy unlimited wants, dealing with the fundamental problem of scarcity. This requires opportunity cost tradeoffs between competing alternatives.
- Positive economics attempts to describe the economy through testable hypotheses, while normative economics relies on value judgments to evaluate policies. Economists use the scientific method and strive for Pareto efficiency.
- Microeconomics studies individual decisions and markets, while macroeconomics analyzes aggregate markets and the whole economy. Supply and demand determine prices in competitive markets.
Market Determinants (Lecture)
This document discusses the key determinants of supply and demand in markets, including laws of supply and demand, factors that influence supply curves like costs and technology, and factors that influence demand curves like income, tastes, and number of buyers. Understanding these determinants allows one to predict how prices and quantities will change in response to events in the market.
Sheet1Quantity (miles of pipeline)Total CostTotal Fixed CostTotal .docx
Sheet1Quantity (miles of pipeline)Total CostTotal Fixed CostTotal Variable CostAverage Fixed CostAverage Variable CostMarginal Cost0$ 5,000$ 5,0001,000$ 11,5732,000$ 18,2083,000$ 29,2674,000$ 44,7505,000$ 64,6576,000$ 88,9877,000$ 117,7408,000$ 150,9189,000$ 188,51810,000$ 230,54311,000$ 276,99112,000$ 327,86313,000$ 383,15914,000$ 442,87815,000$ 507,02116,000$ 575,58717,000$ 648,57718,000$ 725,99119,000$ 807,82820,000$ 894,08921,000$ 984,77422,000$ 1,079,88223,000$ 1,179,41424,000$ 1,283,37025,000$ 1,391,74926,000$ 1,504,55227,000$ 1,621,77828,000$ 1,743,42929,000$ 1,869,50230,000$ 2,000,000
Week 4
Will Fence owns a 70-acre large timber and Christmas tree farm. The Christmas farm gets busy in August and September when Will identifies and flags the trees suitable for Christmas season. Starting in October, the flagged trees will be cut, baled, and trucked to the storage yard where they will stay until shipped. The storage yard is situated in an area that offers shade and protection from the wind to maintain the freshness of the tree. The trees are stacked with the tops locked together to keep the sun and wind away from them.
Will has just purchased an additional 40 acres and will need to expand his storage yard by 40,000 square feet. The budget for this expansion is $55,000. Will has hired your team to design a process to contract resources to expand the storage yard.
Cover the following as requested by Will:
· Description of the contract resource procurement process (from start to closure).
· Explanation of how the contract resources procurement process that was described will assist Will in negotiating the best purchase.
· Explanation to Will why the team believes the process is efficient and achieves the results desired.
· Identification of any risks associated with procuring these resources and explanation of the role of risk management in this process.
· Explanation of how the process may be improved upon.
· Other recommendations the team may have for Will to consider.
Graphing Supply and Demand
Supply and demand are so important for both consumers and producers
because both of these concepts work together to determine the overall price
of an item, as well as the total quantity sold in a market. To see how this
works, we can show both on a graph such as you see in the header image
above.
Remember that demand is a relationship between price and the quantity that
consumers are willing and able to pay. This is an inverse, or negative,
relationship, in which the variable's price and quantity move in opposite
directions. This would be depicted as a downward sloping curve on a graph.
Similarly, supply is a relationship between the price of an item and the
quantity that producers are willing to supply. This is a direct, or positive,
relationship, in which the variable's price and quantity move in the same
direction. This would be depicted as an u.
Chap2
This document provides an overview of demand, supply, and market equilibrium concepts. It defines key terms like demand curve, supply curve, equilibrium price and quantity. It explains how shifts in demand or supply curves affect equilibrium. Specifically:
1) The law of demand and supply are introduced, which state that quantity demanded increases with lower price and quantity supplied increases with higher price.
2) Market equilibrium exists when quantity demanded equals quantity supplied. Disequilibrium can cause surplus or shortage.
3) A shift of the demand or supply curve changes the equilibrium price and quantity in the market. Both curves shifting can have different effects depending on the direction and magnitude of the shifts.
Chap2
This document provides an overview of demand, supply, and market equilibrium concepts. It defines key terms like demand curve, supply curve, equilibrium price and quantity. It explains how shifts in demand or supply curves affect equilibrium. Specifically:
1) The law of demand and supply are introduced, which state that quantity demanded increases with lower price and quantity supplied increases with higher price.
2) Market equilibrium exists when quantity demanded equals quantity supplied. Disequilibrium can cause surplus or shortage.
3) A shift of the demand or supply curve changes the equilibrium price and quantity in the market. Both curves shifting can have varying effects depending on the direction and magnitude of the shifts.
Similar to Demand, supply, & prices (1) (20)
Applied economics week 3 (market demand.supply equilibrium).pptx
Applied economics week 3 (market demand.supply equilibrium).pptx
Sheet1Quantity (miles of pipeline)Total CostTotal Fixed CostTotal .docx
Sheet1Quantity (miles of pipeline)Total CostTotal Fixed CostTotal .docx
Recently uploaded
How to Manage Reception Report in Odoo 17
A business may deal with both sales and purchases occasionally. They buy things from vendors and then sell them to their customers. Such dealings can be confusing at times. Because multiple clients may inquire about the same product at the same time, after purchasing those products, customers must be assigned to them. Odoo has a tool called Reception Report that can be used to complete this assignment. By enabling this, a reception report comes automatically after confirming a receipt, from which we can assign products to orders.
KHUSWANT SINGH.pptx ALL YOU NEED TO KNOW ABOUT KHUSHWANT SINGH
INDIA`S OWN LITERARY GENIUS MR.KHUSHWANT SINGH WAS TRULY A VERY BRAVE SOUL AND WAS AWARDED WITH THE MAGIC OF WORDS BY GOD.
Elevate Your Nonprofit's Online Presence_ A Guide to Effective SEO Strategies...
Whether you're new to SEO or looking to refine your existing strategies, this webinar will provide you with actionable insights and practical tips to elevate your nonprofit's online presence.
HYPERTENSION - SLIDE SHARE PRESENTATION.
IT WILL BE HELPFULL FOR THE NUSING STUDENTS
IT FOCUSED ON MEDICAL MANAGEMENT AND NURSING MANAGEMENT.
HIGHLIGHTS ON HEALTH EDUCATION.
INTRODUCTION TO HOSPITALS & AND ITS ORGANIZATION
The document discuss about the hospitals and it's organization .
Andreas Schleicher presents PISA 2022 Volume III - Creative Thinking - 18 Jun...
Andreas Schleicher, Director of Education and Skills at the OECD presents at the launch of PISA 2022 Volume III - Creative Minds, Creative Schools on 18 June 2024.
CHUYÊN ĐỀ ÔN TẬP VÀ PHÁT TRIỂN CÂU HỎI TRONG ĐỀ MINH HỌA THI TỐT NGHIỆP THPT ...
CHUYÊN ĐỀ ÔN TẬP VÀ PHÁT TRIỂN CÂU HỎI TRONG ĐỀ MINH HỌA THI TỐT NGHIỆP THPT ...Nguyen Thanh Tu Collection
https://app.box.com/s/qspvswamcohjtbvbbhjad04lg65waylfTHE SACRIFICE HOW PRO-PALESTINE PROTESTS STUDENTS ARE SACRIFICING TO CHANGE T...
The recent surge in pro-Palestine student activism has prompted significant responses from universities, ranging from negotiations and divestment commitments to increased transparency about investments in companies supporting the war on Gaza. This activism has led to the cessation of student encampments but also highlighted the substantial sacrifices made by students, including academic disruptions and personal risks. The primary drivers of these protests are poor university administration, lack of transparency, and inadequate communication between officials and students. This study examines the profound emotional, psychological, and professional impacts on students engaged in pro-Palestine protests, focusing on Generation Z's (Gen-Z) activism dynamics. This paper explores the significant sacrifices made by these students and even the professors supporting the pro-Palestine movement, with a focus on recent global movements. Through an in-depth analysis of printed and electronic media, the study examines the impacts of these sacrifices on the academic and personal lives of those involved. The paper highlights examples from various universities, demonstrating student activism's long-term and short-term effects, including disciplinary actions, social backlash, and career implications. The researchers also explore the broader implications of student sacrifices. The findings reveal that these sacrifices are driven by a profound commitment to justice and human rights, and are influenced by the increasing availability of information, peer interactions, and personal convictions. The study also discusses the broader implications of this activism, comparing it to historical precedents and assessing its potential to influence policy and public opinion. The emotional and psychological toll on student activists is significant, but their sense of purpose and community support mitigates some of these challenges. However, the researchers call for acknowledging the broader Impact of these sacrifices on the future global movement of FreePalestine.
CapTechTalks Webinar Slides June 2024 Donovan Wright.pptx
Slides from a Capitol Technology University webinar held June 20, 2024. The webinar featured Dr. Donovan Wright, presenting on the Department of Defense Digital Transformation.
How to Setup Default Value for a Field in Odoo 17
In Odoo, we can set a default value for a field during the creation of a record for a model. We have many methods in odoo for setting a default value to the field.
Level 3 NCEA - NZ: A Nation In the Making 1872 - 1900 SML.ppt
The History of NZ 1870-1900.
Making of a Nation.
From the NZ Wars to Liberals,
Richard Seddon, George Grey,
Social Laboratory, New Zealand,
Confiscations, Kotahitanga, Kingitanga, Parliament, Suffrage, Repudiation, Economic Change, Agriculture, Gold Mining, Timber, Flax, Sheep, Dairying,
How to Fix [Errno 98] address already in use
This slide will represent the cause of the error “[Errno 98] address already in use” and the troubleshooting steps to resolve this error in Odoo.
Information and Communication Technology in Education
(𝐓𝐋𝐄 𝟏𝟎𝟎) (𝐋𝐞𝐬𝐬𝐨𝐧 2)-𝐏𝐫𝐞𝐥𝐢𝐦𝐬
𝐄𝐱𝐩𝐥𝐚𝐢𝐧 𝐭𝐡𝐞 𝐈𝐂𝐓 𝐢𝐧 𝐞𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧:
Students will be able to explain the role and impact of Information and Communication Technology (ICT) in education. They will understand how ICT tools, such as computers, the internet, and educational software, enhance learning and teaching processes. By exploring various ICT applications, students will recognize how these technologies facilitate access to information, improve communication, support collaboration, and enable personalized learning experiences.
𝐃𝐢𝐬𝐜𝐮𝐬𝐬 𝐭𝐡𝐞 𝐫𝐞𝐥𝐢𝐚𝐛𝐥𝐞 𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐢𝐧𝐭𝐞𝐫𝐧𝐞𝐭:
-Students will be able to discuss what constitutes reliable sources on the internet. They will learn to identify key characteristics of trustworthy information, such as credibility, accuracy, and authority. By examining different types of online sources, students will develop skills to evaluate the reliability of websites and content, ensuring they can distinguish between reputable information and misinformation.
skeleton System.pdf (skeleton system wow)
🔥🔥🔥🔥🔥🔥🔥🔥🔥
إضغ بين إيديكم من أقوى الملازم التي صممتها
ملزمة تشريح الجهاز الهيكلي (نظري 3)
💀💀💀💀💀💀💀💀💀💀
تتميز هذهِ الملزمة بعِدة مُميزات :
1- مُترجمة ترجمة تُناسب جميع المستويات
2- تحتوي على 78 رسم توضيحي لكل كلمة موجودة بالملزمة (لكل كلمة !!!!)
#فهم_ماكو_درخ
3- دقة الكتابة والصور عالية جداً جداً جداً
4- هُنالك بعض المعلومات تم توضيحها بشكل تفصيلي جداً (تُعتبر لدى الطالب أو الطالبة بإنها معلومات مُبهمة ومع ذلك تم توضيح هذهِ المعلومات المُبهمة بشكل تفصيلي جداً
5- الملزمة تشرح نفسها ب نفسها بس تكلك تعال اقراني
6- تحتوي الملزمة في اول سلايد على خارطة تتضمن جميع تفرُعات معلومات الجهاز الهيكلي المذكورة في هذهِ الملزمة
واخيراً هذهِ الملزمة حلالٌ عليكم وإتمنى منكم إن تدعولي بالخير والصحة والعافية فقط
كل التوفيق زملائي وزميلاتي ، زميلكم محمد الذهبي 💊💊
🔥🔥🔥🔥🔥🔥🔥🔥🔥
220711130083 SUBHASHREE RAKSHIT Internet resources for social science
Internet resources for social science
Recently uploaded (20)
KHUSWANT SINGH.pptx ALL YOU NEED TO KNOW ABOUT KHUSHWANT SINGH
KHUSWANT SINGH.pptx ALL YOU NEED TO KNOW ABOUT KHUSHWANT SINGH
Elevate Your Nonprofit's Online Presence_ A Guide to Effective SEO Strategies...
Elevate Your Nonprofit's Online Presence_ A Guide to Effective SEO Strategies...
Andreas Schleicher presents PISA 2022 Volume III - Creative Thinking - 18 Jun...
Andreas Schleicher presents PISA 2022 Volume III - Creative Thinking - 18 Jun...
220711130088 Sumi Basak Virtual University EPC 3.pptx
220711130088 Sumi Basak Virtual University EPC 3.pptx
CHUYÊN ĐỀ ÔN TẬP VÀ PHÁT TRIỂN CÂU HỎI TRONG ĐỀ MINH HỌA THI TỐT NGHIỆP THPT ...
CHUYÊN ĐỀ ÔN TẬP VÀ PHÁT TRIỂN CÂU HỎI TRONG ĐỀ MINH HỌA THI TỐT NGHIỆP THPT ...
THE SACRIFICE HOW PRO-PALESTINE PROTESTS STUDENTS ARE SACRIFICING TO CHANGE T...
THE SACRIFICE HOW PRO-PALESTINE PROTESTS STUDENTS ARE SACRIFICING TO CHANGE T...
CapTechTalks Webinar Slides June 2024 Donovan Wright.pptx
CapTechTalks Webinar Slides June 2024 Donovan Wright.pptx
Level 3 NCEA - NZ: A Nation In the Making 1872 - 1900 SML.ppt
Level 3 NCEA - NZ: A Nation In the Making 1872 - 1900 SML.ppt
Information and Communication Technology in Education
Information and Communication Technology in Education
220711130097 Tulip Samanta Concept of Information and Communication Technology
220711130097 Tulip Samanta Concept of Information and Communication Technology
220711130083 SUBHASHREE RAKSHIT Internet resources for social science
220711130083 SUBHASHREE RAKSHIT Internet resources for social science
Demand, supply, & prices (1)
- 1. C H A P T E R 6 Demand, Supply, & Prices
- 2. The Interaction of Demand and Supply Market equilibrium: Quantity demanded is equal to quantity supplied Equilibrium price: is the price where the market is at equilibrium. E D1 S1
- 3. Reaching the Equilibrium Price Surplus: results when quantity supplied is greater than quantity demanded. This will be found above the equilibrium point on a graph Shortage: when quantity demand exceeds quantity supplied. This will be found below the equilibrium point on a graph.
- 4. Reaching the Equilibrium Price 1 2 3 4 5 6 7 1 2 3 4 5 6 7 8 Price Quantity Surplus Shortage D1 S1Amount demanded Amount supplied
- 5. Holiday Toys Think of the hot Holiday toy around Christmas time, there is often a shortage of the toy during the holiday shopping spree. After the holiday there may be a surplus.
- 6. Change in Demand and Equilibrium Price Disequilibrium: occurs when quantity demanded and quantity supplied are not balanced. D1 D2 Quantity Price D3A decrease in demand results in a drop in equilibrium price An increase in demand results in an increase in equilibrium price E
- 7. Change in Supply and Equilibrium Price Quantity price S1 S2 S3 e A decrease in Supply results in an increase in Price An increase in supply results in a decrease in price
- 8. S E C T I O N 2 Price as Signals and incentives
- 9. How the Price System Works Competitive pricing: occurs when producers sell products at lower prices to lure customers away from rival producers, while still making a profit.
- 10. How the Price System Works It’s neutral: the free interaction between producers and consumers determines equilibrium price. It’s market driven: price system runs it’s self, not a government. It is flexible: when conditions change, prices are able to change quickly in response It’s efficient: prices will adjust until maximum number of goods and services are sold.
- 11. Prices Motivate Producers and Consumers Incentive: is a way to encourage people to take a certain action. What incentives affect producers? What incentives affect consumers?
- 12. S E C T I O N 3 Intervention in the Price System
- 13. Imposing Price ceilings Price ceiling: the legal maximum price that sellers may charge for a product. Price ceilings result in shortages. They are set below the equilibrium price. Rent control Football tickets Price Ceiling e
- 14. Price Ceilings Why do you think colleges don’t raise prices on football tickets? What about concert tickets that sell out?
- 15. Setting Price Floor Price Floor: the legal minimum price that buyers must pay for a product. Are set above the equilibrium price. They create a surplus. Minimum wage Price floor e
- 16. Minimum wage What do you think would happen if we increased minimum wage? What businesses might be hurt by this most? http://www.stltoday.com/business/columns/david-nicklaus/nicklaus-seattle-experiment-should-prove-the-perils-of-a- higher/article_77c530f1-c87e-5b81-b414-7805913a9c3d.html
- 17. Rationing Resources and Products Rationing often takes place during war time, it is done on a first come first serve basis. Black markets are a product of the rationing system where rationed items go to the highest bidder.
- 18. Demand Factors Supply factors Market size Income Consumer expectations Substitute goods Complementary goods consumer taste Forces of nature # of producers Producer expectations Labor productivity Government action Input cost Technology Factors that affect Supply and Demand
- 19. Calculating Surplus or Shortage Consumer surplus= buyers max-price Producer surplus= price –sellers max