The document discusses demand analysis and forecasting. It defines demand and outlines the key determinants and types of demand, including price demand, income demand, and cross demand. It also explains the law of demand and its assumptions. Methods of measuring price elasticity of demand are described, including the total expenditure method, point method, and arc method. The significance and levels of demand forecasting are discussed. The main methods of demand forecasting are the survey method, including expert opinion surveys and consumer interviews, and statistical methods.
This document provides an overview of microeconomic tools used in health economics. It discusses concepts like scarcity and opportunity cost, efficiency, demand and supply, market equilibrium, and elasticity. It also covers consumer theory including indifference curves, utility, and budget constraints. Production possibility frontiers and supplier-induced demand are also mentioned. Key aspects of efficiency like technical efficiency, cost-effectiveness, and allocative efficiency are defined. Factors that can shift demand and supply curves are outlined.
This document provides an overview and outline of topics covered on the AP Microeconomics exam, including:
I. Basic economic concepts like scarcity, opportunity cost, and production possibilities frontier.
II. Economic systems such as command, market and mixed economies as well as concepts like allocative and productive efficiency.
III. Supply and demand including determinants, equilibrium, price ceilings and floors, and government policies.
IV. Elasticity including price, income and cross price elasticity, and the impact of taxes.
V. Consumer choice and the utility maximization rule.
VI. Costs of production including the production function, total, average and marginal costs.
VII.
- A market is where buyers and sellers interact to determine price and quantity for goods and services. The demand side refers to consumers and how much they are willing to pay.
- Firms produce goods and services and households consume them. The circular flow shows the relationship between firms and households in input and output markets.
- Demand is affected by price, income, wealth, tastes, expectations and prices of related goods. The law of demand states that as price increases, quantity demanded decreases.
This document provides an outline of microeconomic tools that are useful for health economics. It discusses concepts like scarcity, opportunity cost, efficiency, demand, supply, market equilibrium, elasticity, consumer theory including indifference curves and budget constraints, and production possibility frontiers. Key points covered include the law of demand and supply, how demand and supply curves are derived, factors that shift curves like income, prices of substitutes and complements. It also discusses technical efficiency, cost-effective efficiency and allocative efficiency.
The document discusses key concepts in production theory including:
1) The law of variable proportions which states that as more units of a variable input are added to fixed inputs, total output initially increases at an increasing rate and then at a decreasing rate.
2) The three stages of the law of variable proportions - increasing, constant, and diminishing returns. A rational producer will operate where average and marginal returns are positive but diminishing.
3) The laws of returns to scale which examine how output changes as all inputs change proportionally in the long-run. There can be increasing, constant, or diminishing returns to scale.
Demand analysis is important for business success as sales depend on market demand. Failure to properly estimate demand can negatively impact business, as seen with Kellogg's and McDonalds in India in the 1990s. Demand serves several purposes including sales forecasting, product planning, and determining pricing. The law of demand generally states that as price increases, quantity demanded decreases, and vice versa. However, there are some exceptions including Giffen goods, goods with snob appeal, and situations involving speculation. A demand curve graphically shows the relationship between price and quantity demanded.
The document discusses demand analysis and forecasting. It defines demand and outlines the key determinants and types of demand, including price demand, income demand, and cross demand. It also explains the law of demand and its assumptions. Methods of measuring price elasticity of demand are described, including the total expenditure method, point method, and arc method. The significance and levels of demand forecasting are discussed. The main methods of demand forecasting are the survey method, including expert opinion surveys and consumer interviews, and statistical methods.
This document provides an overview of microeconomic tools used in health economics. It discusses concepts like scarcity and opportunity cost, efficiency, demand and supply, market equilibrium, and elasticity. It also covers consumer theory including indifference curves, utility, and budget constraints. Production possibility frontiers and supplier-induced demand are also mentioned. Key aspects of efficiency like technical efficiency, cost-effectiveness, and allocative efficiency are defined. Factors that can shift demand and supply curves are outlined.
This document provides an overview and outline of topics covered on the AP Microeconomics exam, including:
I. Basic economic concepts like scarcity, opportunity cost, and production possibilities frontier.
II. Economic systems such as command, market and mixed economies as well as concepts like allocative and productive efficiency.
III. Supply and demand including determinants, equilibrium, price ceilings and floors, and government policies.
IV. Elasticity including price, income and cross price elasticity, and the impact of taxes.
V. Consumer choice and the utility maximization rule.
VI. Costs of production including the production function, total, average and marginal costs.
VII.
- A market is where buyers and sellers interact to determine price and quantity for goods and services. The demand side refers to consumers and how much they are willing to pay.
- Firms produce goods and services and households consume them. The circular flow shows the relationship between firms and households in input and output markets.
- Demand is affected by price, income, wealth, tastes, expectations and prices of related goods. The law of demand states that as price increases, quantity demanded decreases.
This document provides an outline of microeconomic tools that are useful for health economics. It discusses concepts like scarcity, opportunity cost, efficiency, demand, supply, market equilibrium, elasticity, consumer theory including indifference curves and budget constraints, and production possibility frontiers. Key points covered include the law of demand and supply, how demand and supply curves are derived, factors that shift curves like income, prices of substitutes and complements. It also discusses technical efficiency, cost-effective efficiency and allocative efficiency.
The document discusses key concepts in production theory including:
1) The law of variable proportions which states that as more units of a variable input are added to fixed inputs, total output initially increases at an increasing rate and then at a decreasing rate.
2) The three stages of the law of variable proportions - increasing, constant, and diminishing returns. A rational producer will operate where average and marginal returns are positive but diminishing.
3) The laws of returns to scale which examine how output changes as all inputs change proportionally in the long-run. There can be increasing, constant, or diminishing returns to scale.
Demand analysis is important for business success as sales depend on market demand. Failure to properly estimate demand can negatively impact business, as seen with Kellogg's and McDonalds in India in the 1990s. Demand serves several purposes including sales forecasting, product planning, and determining pricing. The law of demand generally states that as price increases, quantity demanded decreases, and vice versa. However, there are some exceptions including Giffen goods, goods with snob appeal, and situations involving speculation. A demand curve graphically shows the relationship between price and quantity demanded.
This document discusses demand, factors that affect demand, and key concepts related to demand curves. It defines demand and explains that demand depends on willingness and ability to pay. Factors that can cause demand to shift include income, price of substitutes or complements, population, and consumer tastes. The law of demand is explained as quantity demanded decreasing as price increases, ceteris paribus. Exceptions to the law and movements along versus shifts of the demand curve are also summarized. Types of demand like price and income demand are defined. The importance of demand analysis for business is highlighted.
1. The document discusses the fundamentals of demand and supply, including defining demand with a demand curve, the determinants of demand, and the difference between a shift in demand versus movement along a demand curve.
2. It explains that a demand curve slopes downward due to the law of demand and the law of diminishing marginal utility - as price increases, quantity demanded decreases.
3. The main determinants of demand are price of the good, income, tastes, prices of substitutes and complements, and expectations about future prices and income. A change in a determinant causes the demand curve to shift, while a change in price results in movement along the
This document discusses concepts related to demand, including:
- Types of demand such as direct/autonomous vs derived demand, recurring vs replacement demand, complementary vs competing demand.
- Determinants of demand including price, income, prices of related goods, tastes/preferences, expectations, and population.
- Representing demand mathematically through a demand function and law of demand.
- Concepts of demand schedules, individual demand curves, and market demand curves.
- Shifting of demand curves due to changes in determinants and exceptions to the law of demand.
- Elasticity of demand including definitions, methods of measurement, and determinants of price elasticity.
The document provides an overview of demand theory, including:
1) It defines demand as the relationship between the quantity of a product consumers are willing and able to buy at different possible prices, assuming other factors remain unchanged.
2) It explains the demand schedule shows quantities demanded at different prices, while the demand curve graphs this relationship with quantity on the x-axis and price on the y-axis, forming a downward sloping curve.
3) It describes the law of demand, which states that, all else equal, quantity demanded increases when price decreases and decreases when price increases.
This document discusses key concepts related to demand and elasticity. It defines demand, types of demand, individual and market demand, and determinants of demand. It also covers the demand curve and function, law of demand, demand schedule and exceptions. For elasticity, it defines price, income, and cross elasticity. It discusses types of price elasticity including perfectly elastic/inelastic and unit elastic demand. Finally, it covers methods for measuring price elasticity including total outlay, proportional, and point methods.
This document provides an overview of key economic concepts related to markets and market failure. It defines important terms like scarcity, factors of production, opportunity cost, demand and supply. It explains how competitive markets work to determine equilibrium prices through the interaction of supply and demand. However, it also discusses how market failures like externalities, public goods, and imperfect competition can result in an inefficient allocation of resources. The document then covers different types of government intervention, like taxes, subsidies, and regulations, that aim to correct these market failures.
This document provides an overview of demand and supply analysis concepts including:
- Definitions of key terms like market, demand, individual vs market demand, determinants of demand, demand curves, law of demand, supply, determinants of supply, law of supply, and market equilibrium.
- Descriptions of different types of demand like organization vs industry demand, autonomous vs derived demand, short-term vs long-term demand.
- Explanations of concepts like demand schedules, demand functions, exceptions to the law of demand, law of diminishing marginal utility, and demand curves.
- Discussions of elasticity including definitions of price elasticity, income elasticity, cross elasticity, and promotional
This document provides an overview of basic economic concepts. It defines key terms like consumers, producers, supply, and demand. It explains how scarcity influences consumer choices, prices, supply, and demand of goods. It describes different types of costs like fixed costs and variable costs that producers consider. It also defines revenue concepts like marginal revenue and diminishing returns. Additionally, it introduces how GDP and standard of living are used to measure the economy. It concludes by explaining the circular flow model which illustrates how households, businesses, and government interact in the economy.
The document discusses key concepts in microeconomics including demand, the law of demand, demand schedules, demand curves, determinants of demand, elasticity of demand, and how to measure elasticity. Specifically, it defines demand as the quantity of a good consumers are willing and able to purchase at various prices in a given time period. It explains that the law of demand states that as price increases, quantity demanded decreases, and vice versa. Demand schedules and curves illustrate the relationship between price and quantity demanded. Factors like income, tastes, prices of related goods, and expectations can cause shifts in the demand curve. Elasticity refers to the responsiveness of quantity demanded to price changes, and can be elastic, inelastic,
The document discusses the theory of demand, defining demand as the relationship between price and quantity while quantity demanded refers to a specific price. It outlines different types of demand and the determinants that influence demand, and establishes the law of demand which states that as price increases, quantity demanded decreases. The representations of demand through schedules and curves are presented along with factors that can cause exceptions to the law of demand.
This document discusses demand theory, the demand curve, elasticity of demand, and energy subsidies from both national and international perspectives. It explains that demand theory relates consumer demand for goods to their prices in the market. The demand curve shows the inverse relationship between quantity demanded and price. Elasticity of demand measures the responsiveness of quantity demanded to price changes. The document also outlines the objectives, advantages, and disadvantages of subsidies and their effects on markets.
The document discusses demand theory, subsidies, and India's energy sector. It explains demand theory, including the demand curve and factors that influence demand elasticity. It then discusses the concept of subsidies, their types and rationale, as well as their advantages and disadvantages. Specifically regarding India, it outlines the trends in central government subsidies from 1994-1995 and classifications of subsidies. It also discusses explicit central government subsidies like food and fertilizer subsidies.
This document discusses demand analysis and policy implications. It covers alternative approaches to demand analysis including forecasting sales, manipulating demand, appraising sales performance, and monitoring competitive position. Quantitative policy analysis can help reveal indirect policy effects and allow testing of assumptions. Case studies examine the impact of integrated public transit policies and demand side management policies for water conservation. The role of quantitative modeling is to help trace disagreements to specific assumptions, quantify tradeoffs, and inform better policy debates.
This document provides an overview of demand analysis concepts including:
- Defining supply, demand, and equilibrium price.
- Describing the determinants of demand such as price, income, tastes.
- Explaining the concepts of individual demand, market demand, demand curves, and how demand is influenced by price changes versus other factors.
- Introducing the key elasticity concepts including price elasticity, income elasticity, and cross elasticity and how they measure responsiveness of demand.
The document lays out the essential framework for understanding how the interaction of supply and demand determines market prices in the short and long run.
This document provides an overview of health care production and markets. It begins by outlining the key concepts to be covered, including demand and supply, elasticity, equilibrium, and market failure. It then defines some important economic terms like ceteris paribus. The document goes on to explain demand, including the law of demand and determinants of demand. It also covers supply, the law of supply, and factors that can shift the supply curve. Finally, it discusses market equilibrium and sources of market failure in health care markets.
This document discusses demand and supply analysis. It begins by defining demand as a want supported by both willingness and ability to pay. There are three conditions for a product to have demand: desire to buy it, willingness to pay the price, and ability to pay. Demand can be of different types depending on price, income, or related goods. The law of demand states that as price increases, quantity demanded decreases, assuming other factors remain unchanged. A demand curve on a graph shows the inverse relationship between price and quantity demanded. A change in a factor like income can cause a shift in the demand curve, representing a change in demand rather than a movement along the curve.
This document provides an overview of topics that will be covered in a basic economics workshop, including:
- Introduction to microeconomics and macroeconomics concepts like supply and demand, markets, and economic growth.
- Key economic principles such as scarcity, opportunity cost, production possibilities frontiers, and the differences between planned, market and mixed economies.
- Microeconomic concepts including demand and supply curves, elasticity, and the differences between short-run and long-run production.
- Short-run cost concepts including total, average and marginal costs, and the relationship between costs and output based on returns to scale.
- Long-run costs and the potential for economies of scale, dise
This document provides an overview of the key topics that will be covered in a basic economics workshop, including:
- Introduction to microeconomics and macroeconomics concepts like supply and demand, markets, and economic growth.
- The nature of scarcity and how it requires individuals and societies to make choices that involve opportunity costs.
- Production possibilities frontiers and how resources constraints impact what combinations of goods can be produced.
- Distinguishing between microeconomic topics like demand, supply, and elasticity from macroeconomic topics like inflation and GDP.
- Differences between production in the short-run, when some resources are fixed, versus the long-run when all resources are variable.
This document discusses demand, factors that affect demand, and key concepts related to demand curves. It defines demand and explains that demand depends on willingness and ability to pay. Factors that can cause demand to shift include income, price of substitutes or complements, population, and consumer tastes. The law of demand is explained as quantity demanded decreasing as price increases, ceteris paribus. Exceptions to the law and movements along versus shifts of the demand curve are also summarized. Types of demand like price and income demand are defined. The importance of demand analysis for business is highlighted.
1. The document discusses the fundamentals of demand and supply, including defining demand with a demand curve, the determinants of demand, and the difference between a shift in demand versus movement along a demand curve.
2. It explains that a demand curve slopes downward due to the law of demand and the law of diminishing marginal utility - as price increases, quantity demanded decreases.
3. The main determinants of demand are price of the good, income, tastes, prices of substitutes and complements, and expectations about future prices and income. A change in a determinant causes the demand curve to shift, while a change in price results in movement along the
This document discusses concepts related to demand, including:
- Types of demand such as direct/autonomous vs derived demand, recurring vs replacement demand, complementary vs competing demand.
- Determinants of demand including price, income, prices of related goods, tastes/preferences, expectations, and population.
- Representing demand mathematically through a demand function and law of demand.
- Concepts of demand schedules, individual demand curves, and market demand curves.
- Shifting of demand curves due to changes in determinants and exceptions to the law of demand.
- Elasticity of demand including definitions, methods of measurement, and determinants of price elasticity.
The document provides an overview of demand theory, including:
1) It defines demand as the relationship between the quantity of a product consumers are willing and able to buy at different possible prices, assuming other factors remain unchanged.
2) It explains the demand schedule shows quantities demanded at different prices, while the demand curve graphs this relationship with quantity on the x-axis and price on the y-axis, forming a downward sloping curve.
3) It describes the law of demand, which states that, all else equal, quantity demanded increases when price decreases and decreases when price increases.
This document discusses key concepts related to demand and elasticity. It defines demand, types of demand, individual and market demand, and determinants of demand. It also covers the demand curve and function, law of demand, demand schedule and exceptions. For elasticity, it defines price, income, and cross elasticity. It discusses types of price elasticity including perfectly elastic/inelastic and unit elastic demand. Finally, it covers methods for measuring price elasticity including total outlay, proportional, and point methods.
This document provides an overview of key economic concepts related to markets and market failure. It defines important terms like scarcity, factors of production, opportunity cost, demand and supply. It explains how competitive markets work to determine equilibrium prices through the interaction of supply and demand. However, it also discusses how market failures like externalities, public goods, and imperfect competition can result in an inefficient allocation of resources. The document then covers different types of government intervention, like taxes, subsidies, and regulations, that aim to correct these market failures.
This document provides an overview of demand and supply analysis concepts including:
- Definitions of key terms like market, demand, individual vs market demand, determinants of demand, demand curves, law of demand, supply, determinants of supply, law of supply, and market equilibrium.
- Descriptions of different types of demand like organization vs industry demand, autonomous vs derived demand, short-term vs long-term demand.
- Explanations of concepts like demand schedules, demand functions, exceptions to the law of demand, law of diminishing marginal utility, and demand curves.
- Discussions of elasticity including definitions of price elasticity, income elasticity, cross elasticity, and promotional
This document provides an overview of basic economic concepts. It defines key terms like consumers, producers, supply, and demand. It explains how scarcity influences consumer choices, prices, supply, and demand of goods. It describes different types of costs like fixed costs and variable costs that producers consider. It also defines revenue concepts like marginal revenue and diminishing returns. Additionally, it introduces how GDP and standard of living are used to measure the economy. It concludes by explaining the circular flow model which illustrates how households, businesses, and government interact in the economy.
The document discusses key concepts in microeconomics including demand, the law of demand, demand schedules, demand curves, determinants of demand, elasticity of demand, and how to measure elasticity. Specifically, it defines demand as the quantity of a good consumers are willing and able to purchase at various prices in a given time period. It explains that the law of demand states that as price increases, quantity demanded decreases, and vice versa. Demand schedules and curves illustrate the relationship between price and quantity demanded. Factors like income, tastes, prices of related goods, and expectations can cause shifts in the demand curve. Elasticity refers to the responsiveness of quantity demanded to price changes, and can be elastic, inelastic,
The document discusses the theory of demand, defining demand as the relationship between price and quantity while quantity demanded refers to a specific price. It outlines different types of demand and the determinants that influence demand, and establishes the law of demand which states that as price increases, quantity demanded decreases. The representations of demand through schedules and curves are presented along with factors that can cause exceptions to the law of demand.
This document discusses demand theory, the demand curve, elasticity of demand, and energy subsidies from both national and international perspectives. It explains that demand theory relates consumer demand for goods to their prices in the market. The demand curve shows the inverse relationship between quantity demanded and price. Elasticity of demand measures the responsiveness of quantity demanded to price changes. The document also outlines the objectives, advantages, and disadvantages of subsidies and their effects on markets.
The document discusses demand theory, subsidies, and India's energy sector. It explains demand theory, including the demand curve and factors that influence demand elasticity. It then discusses the concept of subsidies, their types and rationale, as well as their advantages and disadvantages. Specifically regarding India, it outlines the trends in central government subsidies from 1994-1995 and classifications of subsidies. It also discusses explicit central government subsidies like food and fertilizer subsidies.
This document discusses demand analysis and policy implications. It covers alternative approaches to demand analysis including forecasting sales, manipulating demand, appraising sales performance, and monitoring competitive position. Quantitative policy analysis can help reveal indirect policy effects and allow testing of assumptions. Case studies examine the impact of integrated public transit policies and demand side management policies for water conservation. The role of quantitative modeling is to help trace disagreements to specific assumptions, quantify tradeoffs, and inform better policy debates.
This document provides an overview of demand analysis concepts including:
- Defining supply, demand, and equilibrium price.
- Describing the determinants of demand such as price, income, tastes.
- Explaining the concepts of individual demand, market demand, demand curves, and how demand is influenced by price changes versus other factors.
- Introducing the key elasticity concepts including price elasticity, income elasticity, and cross elasticity and how they measure responsiveness of demand.
The document lays out the essential framework for understanding how the interaction of supply and demand determines market prices in the short and long run.
This document provides an overview of health care production and markets. It begins by outlining the key concepts to be covered, including demand and supply, elasticity, equilibrium, and market failure. It then defines some important economic terms like ceteris paribus. The document goes on to explain demand, including the law of demand and determinants of demand. It also covers supply, the law of supply, and factors that can shift the supply curve. Finally, it discusses market equilibrium and sources of market failure in health care markets.
This document discusses demand and supply analysis. It begins by defining demand as a want supported by both willingness and ability to pay. There are three conditions for a product to have demand: desire to buy it, willingness to pay the price, and ability to pay. Demand can be of different types depending on price, income, or related goods. The law of demand states that as price increases, quantity demanded decreases, assuming other factors remain unchanged. A demand curve on a graph shows the inverse relationship between price and quantity demanded. A change in a factor like income can cause a shift in the demand curve, representing a change in demand rather than a movement along the curve.
This document provides an overview of topics that will be covered in a basic economics workshop, including:
- Introduction to microeconomics and macroeconomics concepts like supply and demand, markets, and economic growth.
- Key economic principles such as scarcity, opportunity cost, production possibilities frontiers, and the differences between planned, market and mixed economies.
- Microeconomic concepts including demand and supply curves, elasticity, and the differences between short-run and long-run production.
- Short-run cost concepts including total, average and marginal costs, and the relationship between costs and output based on returns to scale.
- Long-run costs and the potential for economies of scale, dise
This document provides an overview of the key topics that will be covered in a basic economics workshop, including:
- Introduction to microeconomics and macroeconomics concepts like supply and demand, markets, and economic growth.
- The nature of scarcity and how it requires individuals and societies to make choices that involve opportunity costs.
- Production possibilities frontiers and how resources constraints impact what combinations of goods can be produced.
- Distinguishing between microeconomic topics like demand, supply, and elasticity from macroeconomic topics like inflation and GDP.
- Differences between production in the short-run, when some resources are fixed, versus the long-run when all resources are variable.
Similar to Microeconomic_Basic_Concepts_&_Principals[1] - Read-Only (20)
Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women MagazineCIOWomenMagazine
In this article, we will dive into the extraordinary life of Ellen Burstyn, where the curtains rise on a story that's far more attractive than any script.
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSS
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
Discover innovative uses of Revit in urban planning and design, enhancing city landscapes with advanced architectural solutions. Understand how architectural firms are using Revit to transform how processes and outcomes within urban planning and design fields look. They are supplementing work and putting in value through speed and imagination that the architects and planners are placing into composing progressive urban areas that are not only colorful but also pragmatic.
Call8328958814 satta matka Kalyan result satta guessing➑➌➋➑➒➎➑➑➊➍
Satta Matka Kalyan Main Mumbai Fastest Results
Satta Matka ❋ Sattamatka ❋ New Mumbai Ratan Satta Matka ❋ Fast Matka ❋ Milan Market ❋ Kalyan Matka Results ❋ Satta Game ❋ Matka Game ❋ Satta Matka ❋ Kalyan Satta Matka ❋ Mumbai Main ❋ Online Matka Results ❋ Satta Matka Tips ❋ Milan Chart ❋ Satta Matka Boss❋ New Star Day ❋ Satta King ❋ Live Satta Matka Results ❋ Satta Matka Company ❋ Indian Matka ❋ Satta Matka 143❋ Kalyan Night Matka..
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
𝐔𝐧𝐯𝐞𝐢𝐥 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐄𝐧𝐞𝐫𝐠𝐲 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐰𝐢𝐭𝐡 𝐍𝐄𝐖𝐍𝐓𝐈𝐃𝐄’𝐬 𝐋𝐚𝐭𝐞𝐬𝐭 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬
Explore the details in our newly released product manual, which showcases NEWNTIDE's advanced heat pump technologies. Delve into our energy-efficient and eco-friendly solutions tailored for diverse global markets.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...BBPMedia1
Nathalie zal delen hoe DEI en ESG een fundamentele rol kunnen spelen in je merkstrategie en je de juiste aansluiting kan creëren met je doelgroep. Door middel van voorbeelden en simpele handvatten toont ze hoe dit in jouw organisatie toegepast kan worden.
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
Garments ERP Software in Bangladesh _ Pridesys IT Ltd.pdfPridesys IT Ltd.
Pridesys Garments ERP is one of the leading ERP solution provider, especially for Garments industries which is integrated with
different modules that cover all the aspects of your Garments Business. This solution supports multi-currency and multi-location
based operations. It aims at keeping track of all the activities including receiving an order from buyer, costing of order, resource
planning, procurement of raw materials, production management, inventory management, import-export process, order
reconciliation process etc. It’s also integrated with other modules of Pridesys ERP including finance, accounts, HR, supply-chain etc.
With this automated solution you can easily track your business activities and entire operations of your garments manufacturing
proces
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
2. Learning Outcomes
• To discuss the key economic concepts like scarcity,
rationality, equilibrium and opportunity cost.
• To help the students analyse how decisions are made
about what, how and for whom to produce.
4. What is Economics?
• Discusses how a society tries to solve the human
problems of unlimited wants and scarce resources.
• Scientific study of the choices made by individuals and
societies with regard to the alternative uses of scarce
resources employed to satisfy wants.
5. Basic Assumptions
• Ceteris Paribus
Latin phrase
“With other things remaining the same”
or “all other
things being equal”.
• Rationality
Consumers maximize utility subject to
given money
income.
Producers maximize profit subject to
6. Types of Economic Analysis
• Micro and Macro
– Microeconomics (“micro” meaning small): study of
the behaviour of small economic units
– Macroeconomics (“macro” meaning large): study of
aggregates.
7. Types of Economic Analysis
contd..
• Positive and Normative
– Positive economics: “what is” in economic matters
• Establishes a cause and effect relationship
variables.
• Analyzes problems on the basis of facts.
between
– Normative economics: “what ought to be” in
economic matters.
• Concerned with questions involving value judgments.
• Incorporates value judgments about what the economy
should be like.
8. Poll Time
Which of the following is a microeconomics
concern?
A) the reasons for a decline in average price level
B) the reasons why Naira buys less orange juice
C) the cause of why total employment may
decrease
D) the effect of the government budget deficit on
inflation
9. Which of the following is a macroeconomic
issue?
A) why plumbers earn more than janitors
B) the reasons for the rise in average prices
C) whether the army should buy more tanks or
more rockets
D) the reasons for a rise in the price of orange
juice
10. contd..
• Short Run and Long Run
– Short run: Time period not enough for consumers and
producers to adjust completely to any new situation.
– Long run: Time period long enough for consumers and
producers to adjust to any new situation.
Types of Economic Analysis
11. Types of Economic Analysis
contd..
• Partial and General Equilibrium
– Partial equilibrium analysis: Related to micro analysis
• Studies the outcome of any action in a single
market or consumer only.
• Equilibrium of one firm or few firms and not
necessarily the industry or economy.
– General equilibrium: explains economic phenomena
in an economy as a whole.
• State in which all the industries in an economy are
in equilibrium.
12. Economic Principles
• Concept of scarcity
– Unlimited human wants
– Limited resources available to satisfy such wants
– Best possible use of resources to get:
• maximum satisfaction (from the point of view of consumers) or
• maximum output (from the point of view of producers or firms)
• Concept of opportunity cost
– Opportunity cost is the benefit forgone from the alternative
that is not selected.
– Highlights the capacity of one resource to satisfy multitude of
wants
– Helps in making rational choices in all aspects of business,
since resources are scarce and wants are unlimited
13. • Concept of margin or increment
– Marginality: a unit increase in cost or revenue or
utility.
• Marginal cost: change in Total Cost due to a unit change in
output.
• Marginal revenue: change in Total Revenue due to a unit
change in sales.
• Marginal utility: change in Total Utility due to a unit change
in consumption.
– Incremental: applied when the changes are in bulk,
say 10% increase in sales.
Economic Principles
Contd…
14. Poll Time
Those things that must be forgone to acquire a
good are called:
A)substitutes
B)opportunity costs.
C)explicit costs.
D)competitors
15. Production Possibility Curve
• Highlights the concepts of scarcity and opportunity
cost.
– Indicates the opportunity cost of increasing one item's production
(or consumption) in terms of the units of the other forgone
– Slope of the curve in absolute terms
• Assumptions:
– The economy is operating at full employment.
– Factors of production are fixed in supply; they can however be
reallocated among different uses.
– Technology remains the same.
16. Food
Clothing
FQ
CQ
Q
FP
CP
P
O
PPC for the Society
Production Possibility Curve
Technically
Infeasible Area
Productively
Inefficient Area
Shows the different
combinations of the quantities of
two goods that can be produced
(or consumed) in an economy at
any point of time.
Below the curve is productively
inefficient area and above it is
technically infeasible area, so
the equilibrium will be at the
curve (FP and CP at point P).
Depicts the trade off between
any two items produced (or
consumed).
T
o increase the quantity of
clothing from CP to CQ some
amount of food (FP-FQ) will have
to be sacrificed. New point of
equilibrium on PPC is at Q.
18. Learning Outcomes
• To discuss the effects of determinants of demand on
Demand Function.
• To discuss the causes of change in Demand.
19. Demand
Demand: effective desire
Demand is that desire which backed by willingness and ability to
buy a particular commodity.
Amount of the commodity which consumers are willing to buy
per unit of time, at that price.
Things necessary for demand:
Time
Price of the commodity
Amount (or quantity) of the commodity consumers are willing
to purchase at the price
20. Types of Demand
Direct and Derived Demand
Direct demand is for the goods as they are such as Consumer
goods
Derived demand is for the goods which are demanded to
produce some other commodities; e.g. Capital goods
Recurring and Replacement Demand
Recurring demand is for goods which are consumed at frequent
intervals such as food items, clothes.
Durables are purchased to be used for a long period of time
Wear and tear over time needs replacement
Complementary and Competing Demand
Some goods are jointly demanded hence are complementary in
nature, e.g. software and hardware, car and petrol.
Some goods compete with each other for demand because
they are substitutes to each other, e.g. soft drinks and juices.
21. Determinants of Demand
Price of the product
Single most important determinant
Negative effect on demand
Higher the price-lower the demand
Income of the consumer
Normal goods: demand increases with increase in consumer’s
income
Inferior goods: demand falls as income rises
Price of related goods
Substitutes
If the price of a commodity increases, demand for its
substitute rises.
Complements
If the price of a commodity increases, quantity demanded of
its complement falls.
22. Determinants of Demand
Contd…
Tastes and preferences
Very significant in case of consumer goods
Expectation of future price changes
Gives rise to tendency of hoarding of durable goods
Population
Size, composition and distribution of population will
influence demand
Advertising
Very important in case of competitive markets
23. 1. Holding all other factors constant, consumers demand
more of a good the
(a) higher its price.
(b) lower its price.
(c) steeper the downward slope of the demand curve.
(d) steeper the upward slope of the demand curve.
24. 2. if the cost of making bicycles falls, the price goes
down, causing the demand curve to shift to the right.
True
False
25. Demand Function
Interdependence between demand for a product and its
determinants can be shown in a mathematical functional
form
Dx = f(Px, Y, Py, T, A, N)
Independent variables: Px, Y, Py, T, A, N
Dependent variable: Dx
Px: Price of x
Y: Income of consumer
Py: Price of other commodity
T: Taste and preference of consumer
A: Advertisement
N: Macro variable like inflation, population growth, economic
growth
26. Law of Demand
A special case of demand function which shows relation between
price and demand of the commodity
Dx = f(Px)
Other things remaining constant, when the price of a commodity
rises, the demand for that commodity falls or when the price of a
commodity falls, the demand for that commodity rises.
Price bears a negative relationship with demand
27. Demand Schedule and Individual
Demand Curve
Point
on
Demand
Curve
Price (Rs
per cup)
Demand
(‘000
cups)
a 15 50
b 20 40
c 25 30
d 30 20
e 35 10
b
a
e
35
d
30
c
10 20 30
25
20
15
40 50
Quantity of coffee
O
28. Change in Demand
D1
D2
D0
Price
0
Shift in demand curve from D0 to
D1
More is demanded at same
price (Q1>Q)
Increase in demand caused by:
A rise in the price of a substitute
A fall in the price of a
complement
A rise in income
A redistribution of income
towards those who favour the
commodity
A change in tastes that favours
the commodity
0
Quantity Shift in demand curve from D to
D2
Less is demanded at each price
(Q2<Q)
P
Q1
Q
Q2
29. Which of the following will not cause a shift
in the demand curve?
A. Price
B. Population
C. Income
D. Taste and Prefrence
30. Exceptions to the Law of Demand
Law of demand may not operate due to
the following
reasons:
Giffen Goods
Snob Appeal
Demonstration Effect
Future Expectation of Prices (Panic buying)
Addiction
Neutral goods
Life saving drugs
Salt
Amount of income spent
Match box
31. Market Demand
Market: interaction between sellers and buyers of a good
(or service) at a mutually agreed upon price.
Market demand
Aggregate of individual demands for a commodity at a
particular price per unit of time.
Sum total of the quantities of a commodity that all buyers
in the market are willing to buy at a given price and at a
particular point of time (ceteris paribus)
Market demand curve: horizontal summation of
individual demand curves
