This document discusses economic concepts related to equilibrium, including:
- Equilibrium price is where quantity demanded equals quantity supplied
- Equilibrium quantity is the quantity where demand and supply are equal at a given price
- Equilibrium state is when there are no economic pressures from excess demand or supply
- Disequilibrium state is when there is a surplus or shortage in the market
It also defines consumer surplus as the benefit consumers receive from purchasing below the maximum price they would be willing to pay, and producer surplus as the benefit sellers receive from selling above the minimum price they would be willing to accept.
Supply Demand and Equilibrium..
Market Exchange..
Law of Supply...
Law of Demand...
Laws of supply and demand versus the “theory of supply and demand”
Laws vs. Theory of Supply and Demand..
Different types of demand..
Market Supply ..
Demand Curve..
Supply Curve..
Market Equilibrium..
Elasticity..
Own price elasticity of demand..
Supply Demand and Equilibrium..
Market Exchange..
Law of Supply...
Law of Demand...
Laws of supply and demand versus the “theory of supply and demand”
Laws vs. Theory of Supply and Demand..
Different types of demand..
Market Supply ..
Demand Curve..
Supply Curve..
Market Equilibrium..
Elasticity..
Own price elasticity of demand..
This is a presentation on market structure - topic of Economics -
It includes:
What is Market?
What is market structure?
Characteristics of Market
Classification of Market
1)Area or region
2)Time
3)Functions
4)nature of Commodity
5)Legality
Types of Market structure
characteristics of all market structures
This can be useful for BBA student of 1st year.
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.
This is a presentation on market structure - topic of Economics -
It includes:
What is Market?
What is market structure?
Characteristics of Market
Classification of Market
1)Area or region
2)Time
3)Functions
4)nature of Commodity
5)Legality
Types of Market structure
characteristics of all market structures
This can be useful for BBA student of 1st year.
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.
CONSUMERS, PRODUCERS, AND THE EFFICIENCY OF MARKETSFaHaD .H. NooR
CONSUMERS, PRODUCERS, AND THE EFFICIENCY OF MARKETS
Micro economics
Welfare economics is the study of how the allocation of resources affects economic well-being.
The equilibrium of supply and demand in a market maximizes the total benefits received by buyers and sellers.
The study of welfare economics explains the earlier studied one of the principles of economies that markets are usually a good way to organize economic activity.
The price that balances the supply and demand for a product is the best one because it maximizes the total welfare of consumers and producers.
Demand and Supply Analysis (Economics) Lecture NotesFellowBuddy.com
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June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
2. WARM UP:
1. Write your name on the small piece of paper
on your desk.
!
2. When I say “GO” - find 4 different partners:
sign your names on each other’s paper next to
one of the keywords: “opportunity cost,”
“incentive,” and “demand.”
!
* You are not allowed to trade signatures with
someone sitting next to you!
3. EQUILIBRIUM PRICE:
The price where quantity
demanded (Qd) is equal to
quantity supplied (Qs).
Q
P
We indicate
equilibrium
price with “P”
and a “star”
4. EQUILIBRIUM QUANTITY:
The quantity (Q) at which quantity
demanded (Qd) and quantity supplied
(Qs) are equal at a certain price (P).
Q
P
We indicate
equilibrium
quantity with
“Q” and a
“star”
5. EQUILIBRIUM STATE:
The combination of price (P) and
quantity (Q) where there is no
economic pressure from extra demand
or extra supply.
Q
P
6. DISEQUILIBRIUM STATE:
When the market is outside of
equilibrium. In other words, when there
is a surplus or shortage of goods.
Qs
P
P
Qd Qs
Qd
7. Qs
P
Qd
Answer the following
(Don’t answer question:
out loud!)
Does this graph
represent a
a surplus or a
shortage?
Does this graph
represent a
a surplus or a
shortage?
and…
and…
How do you
know?
How do you
know?
8. Qs
P
Qd
Answer the following
(Don’t answer question:
out loud!)
Does this graph
represent a
a surplus or a
shortage?
and…
How do you
know?
9. Answer the following questions:
Classroom Projectors
140
120
100
80
60
40
20
100 500 1000 1500
S
D
Q (in thousands)
P
What is the equilibrium price?
What is the equilibrium quantity?
10. Answer the following questions:
Name a price that would result in a shortage.
Name a price that would result in a surplus.
Classroom Projectors
140
120
100
80
60
40
20
100 500 1000 1500
S
D
Q (in thousands)
P
11. CONSUMER SURPLUS: (buyer)
The benefit consumers receive from buying a
good/service, measured by what the individuals
would have been willing to pay minus the
amount they actually paid.
I wanted to buy an apple, and I was
willing to pay $3.00 to get it.
I bought an apple for $2.50!
My consumer surplus for this
purchase is .50¢
12. PRODUCER SURPLUS: (seller)
The benefit producers receive from selling a
good/service, measured by the price they
actually received minus the price they would
have been willing to accept.
I wanted to sell an apple, and I was
willing to sell it for $1.00.
I sold an apple for $2.50!
My producer surplus for this
sale is $1.50
13. CONSUMER &
PRODUCER
SURPLUS:
It doesn’t represent
actual money we have
saved or made, because
the buyer has still spent
money and the seller
has not made any
additional money.
Instead, it’s a theoretical
benefit we receive.
We’re all happy
because we have more
money than we might
have had if the
transaction went differently
14. * An auction can potentially eliminate consumer
surplus for the individual who wins.
15. P
Q
S
D
This area on the
graph represents
consumer surplus for
the whole market
This area on the
graph represents
producer surplus
Both areas combined
is called social surplus.
16. These are all the people demanding the product
P
Q
S
D
at a price higher than equilibrium
These are all the
people willing to
supply the product
at a price
lower than
equilibrium
17. Q
S
D
P2
P
!
If the price is at equilibrium,
All of the people who
were willing to pay
more have received a
consumer surplus.
A person willing to
pay the higher price
of P2 saved the
difference between
P2 and the
current market price.
!
18. Q
S
D
If the producer was willing
to sell at $50, but he
sells at the price of
100
50
$100, he receives
a producer surplus of
$50.
19. Answer the following question:
Calculate the consumer and producer surplus in this sale:
I sold a car
for $13,500.
!
I was willing
to sell it
as cheap as
$11,000!
I bought a
car for
$13,500!
!
I was willing
to buy it
for up to
$14,000.