The document discusses the economic concepts of supply and demand. It explains key terms like the demand curve, supply curve, and market equilibrium. It shows how shifts in supply or demand curves can change the equilibrium price and quantity in a market. When demand increases, the equilibrium price rises and quantity sold increases. When supply increases, the equilibrium price falls and quantity sold rises. The market reaches equilibrium when the quantity demanded equals the quantity supplied at a single price.
Here are the steps to solve this problem:
1) Draw the dd and ss curves. The supply curve is horizontal, meaning quantity supplied does not change with price. This could reflect that movie theaters have a fixed capacity.
2) The equilibrium price is $8 and the equilibrium quantity is 8,000
3) Add the old and new demand schedules:
Price DD
4 14,000
8 11,000
12 8,000
16 5,000
20 2,000
4) The new equilibrium price is $12 and the new equilibrium quantity is 6,000
This document discusses supply and demand. It begins by asking questions about factors that affect demand and supply, and how supply and demand determine price and quantity. It then defines markets and competition. The rest of the document discusses the concepts of demand, including demand schedules and curves. It explains individual demand versus market demand. It also discusses factors that can shift the demand curve, like number of buyers, income, prices of related goods, tastes, and expectations. Similarly, it covers the concepts of supply, including supply schedules and curves, as well as factors that shift the supply curve, like input prices, technology, number of sellers, and expectations. In summary, it provides an overview of the key microeconomic concepts of supply, demand,
1. Supply and demand are the market forces that determine price and quantity in a competitive market. The demand curve shows that as price decreases, quantity demanded increases, and the supply curve shows that as price increases, quantity supplied also increases.
2. Equilibrium occurs where the supply and demand curves intersect, establishing an equilibrium price and quantity where the amounts buyers want to purchase and sellers want to sell are equal.
3. Various factors can cause the supply and demand curves to shift, changing the equilibrium price and quantity in the market. Changes in income, prices of related goods, tastes and preferences, expectations, technology and number of buyers/sellers all impact supply and demand.
The document discusses supply and demand and how markets work. It defines supply and demand and explains how they determine the equilibrium price and quantity in a competitive market. Supply depends on factors like input prices and technology that influence what producers are willing to supply at different prices. Demand depends on factors like income, tastes, and prices of substitutes and complements that influence what consumers are willing to demand. The intersection of the supply and demand curves shows the equilibrium price and quantity where the amounts suppliers are willing to sell equals the amounts buyers want to purchase.
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.
The fundamentals of supply and demand. We take a look at President Obama\'s recent state of the union address and apply it to fundamental supply and demand principles to predict the outcomes.
Here are the steps to solve this problem:
1) Draw the dd and ss curves. The supply curve is horizontal, meaning quantity supplied does not change with price. This could reflect that movie theaters have a fixed capacity.
2) The equilibrium price is $8 and the equilibrium quantity is 8,000
3) Add the old and new demand schedules:
Price DD
4 14,000
8 11,000
12 8,000
16 5,000
20 2,000
4) The new equilibrium price is $12 and the new equilibrium quantity is 6,000
This document discusses supply and demand. It begins by asking questions about factors that affect demand and supply, and how supply and demand determine price and quantity. It then defines markets and competition. The rest of the document discusses the concepts of demand, including demand schedules and curves. It explains individual demand versus market demand. It also discusses factors that can shift the demand curve, like number of buyers, income, prices of related goods, tastes, and expectations. Similarly, it covers the concepts of supply, including supply schedules and curves, as well as factors that shift the supply curve, like input prices, technology, number of sellers, and expectations. In summary, it provides an overview of the key microeconomic concepts of supply, demand,
1. Supply and demand are the market forces that determine price and quantity in a competitive market. The demand curve shows that as price decreases, quantity demanded increases, and the supply curve shows that as price increases, quantity supplied also increases.
2. Equilibrium occurs where the supply and demand curves intersect, establishing an equilibrium price and quantity where the amounts buyers want to purchase and sellers want to sell are equal.
3. Various factors can cause the supply and demand curves to shift, changing the equilibrium price and quantity in the market. Changes in income, prices of related goods, tastes and preferences, expectations, technology and number of buyers/sellers all impact supply and demand.
The document discusses supply and demand and how markets work. It defines supply and demand and explains how they determine the equilibrium price and quantity in a competitive market. Supply depends on factors like input prices and technology that influence what producers are willing to supply at different prices. Demand depends on factors like income, tastes, and prices of substitutes and complements that influence what consumers are willing to demand. The intersection of the supply and demand curves shows the equilibrium price and quantity where the amounts suppliers are willing to sell equals the amounts buyers want to purchase.
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.
The fundamentals of supply and demand. We take a look at President Obama\'s recent state of the union address and apply it to fundamental supply and demand principles to predict the outcomes.
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.
This document provides an overview of demand and supply concepts including:
- The demand curve illustrates the relationship between price and quantity demanded, with demand decreasing as price increases.
- The supply curve shows the relationship between price and quantity supplied, with supply increasing as price rises.
- Market equilibrium is reached at the price where quantity demanded equals quantity supplied.
The document provides an overview of supply and demand concepts in economics. It defines key terms like supply, demand, equilibrium, and how shifts in supply and demand curves impact equilibrium price and quantity. Supply and demand describe the relationship between price and quantity in a competitive market, where equilibrium is reached at the price where quantity supplied equals quantity demanded.
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]
This document discusses how shifts in both supply and demand can impact the equilibrium price and quantity in a market. It provides an example where the supply of salmon decreases due to a drought and the demand for salmon increases due to a medical report on its health benefits. Graphically, a decrease in supply shifts the supply curve left and an increase in demand shifts the demand curve right. The combined effect is an increase in the equilibrium price, but the impact on equilibrium quantity is ambiguous as the shifts counteract each other along the quantity axis.
This document discusses demand, supply, and market equilibrium. It provides the following key points:
1) Demand is the relationship between price and the quantity consumers are willing and able to purchase. Supply is the relationship between price and the quantity producers are willing and able to provide.
2) The demand curve slopes downward and the supply curve slopes upward, showing that quantity demanded increases with lower prices and quantity supplied increases with higher prices.
3) Market equilibrium occurs where the supply and demand curves intersect, establishing the equilibrium price where quantity supplied equals quantity demanded.
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.
The document discusses the concepts of supply and demand. It defines supply and demand, and explains the laws of supply and demand which state that demand decreases as price increases, and supply increases as price increases. It also discusses the determinants that impact supply and demand, such as price, income, number of buyers/sellers, and technology. The document explains how equilibrium is reached when supply equals demand at a certain price point, and how disequilibrium can occur when there is excess supply or excess demand.
This document provides an overview of supply and demand concepts including:
1) It defines demand as the desire, ability, and willingness of consumers to purchase a product, and explains how demand is a microeconomic concept.
2) It introduces the law of demand and explains how quantity demanded varies inversely with price. Graphs of demand schedules and curves are also presented.
3) The document then discusses factors that can cause a change in quantity demanded versus a change in demand, using examples.
4) Similar concepts of supply, including the law of supply and factors that can cause a change in quantity supplied or change in supply, are then covered.
The document provides an overview of supply and demand theory. It explains that supply and demand theory can be used to predict prices and quantities in a free market economy. The theory assumes that goods are traded in competitive markets with many buyers and sellers. Equilibrium occurs when the quantity demanded equals the quantity supplied at the market price. The law of demand states that quantity demanded varies inversely with price, while the law of supply states quantity supplied varies directly with price.
This document defines demand and discusses the key determinants and concepts related to demand, including:
1. Demand is defined as the amount of a good or service consumers will purchase at a given price. The main determinants of demand are price, income, tastes/preferences, and prices of related goods.
2. The law of demand states that, all else equal, demand increases when price decreases and decreases when price increases. Exceptions include Giffen goods, conspicuous goods, and speculative goods.
3. Elasticity measures the responsiveness of demand to changes in factors like price and income. Types of elasticity include price, income, and cross elasticity. Demand can be perfectly elastic,
This document provides an introduction to supply, demand, and market equilibrium through a PowerPoint presentation. It defines demand and supply, shows how demand and supply schedules can be represented graphically with demand and supply curves, and explains how the curves can shift due to various factors. It also introduces the concept of market equilibrium where quantity demanded equals quantity supplied, resulting in a market clearing price.
1. The document discusses the theory of consumer choice and how it relates to budget constraints and indifference curves.
2. A consumer's budget constraint shows the combinations of goods that can be afforded given income and prices, and indifference curves represent combinations of goods that provide equal satisfaction.
3. The consumer's optimal choice occurs where the highest indifference curve is tangent to the budget constraint, where the marginal rate of substitution equals the relative price.
Consumers, Producers, and the Efficiency of MarketsTuul Tuul
The document discusses welfare economics and how market equilibrium maximizes total welfare. It defines consumer surplus as the difference between what consumers are willing to pay and what they actually pay, which can be measured by the area below the demand curve. Producer surplus is defined as the difference between what producers receive and their costs, which can be measured by the area above the supply curve and below the price. The equilibrium price and quantity maximize total surplus, the sum of consumer and producer surplus, meaning the allocation of resources is efficient. However, market power or externalities can cause inefficiencies.
The document discusses the theory of demand. It introduces the law of demand, which states that demand decreases when price increases and increases when price decreases. Non-price factors that influence demand are also discussed, including income, prices of substitutes, and tastes/preferences. The document analyzes demand in the short run and how changes in demand cause the equilibrium price and quantity to rise or fall. An example is given showing how increasing gas prices led to a decrease in demand for SUVs in the US, resulting in the price of SUVs falling to a new equilibrium.
Equilibrium and disequilibrium in markets are discussed. Equilibrium occurs when quantity demanded equals quantity supplied at the equilibrium price. Disequilibrium can occur due to shortages or surpluses caused by price floors or ceilings. Price floors create surpluses while price ceilings create shortages. The government can cause disequilibrium through policies like rent control and minimum wage laws. Non-price rationing may also occur when social pressures prevent prices from reaching equilibrium.
The document discusses the economic concepts of supply and demand. It provides definitions and explanations of key terms:
1) Supply and demand are the forces that make markets work. They refer to the interactions between buyers and sellers in determining price and quantity.
2) Equilibrium is reached when the quantity supplied equals the quantity demanded at the market price. This balances the market.
3) Shifts in supply or demand curves change the equilibrium price and quantity in predictable ways according to the law of supply and demand.
This document discusses supply, including the law of supply, supply schedules, supply curves, market supply, and the differences between changes in supply versus changes in quantity supplied. The law of supply states that price and quantity supplied move directly. A supply schedule shows the quantity supplied at different prices, and a supply curve graphs this relationship. Market supply is the total supply from all firms. A change in supply is a shift of the supply curve due to factors like input prices, technology, the number of sellers, or taxes. A change in quantity supplied moves along the existing supply curve due to price changes.
This document contains a math lesson on parallelism and perpendicularity. It includes an opening prayer, activities to identify parallel and perpendicular lines using optical illusions and geometry examples, and a worksheet for students to identify different types of angles and lines related to parallelism and perpendicularity. The goal is to help students understand how to establish whether two lines are parallel or perpendicular.
The document provides an example of proving that two angles are congruent (<1 ≡ <2) given that two lines (P and Q) are parallel and cut by a transversal (l). It shows the step-by-step work, stating each statement and providing the corresponding postulate or theorem as the reason. It then provides a quiz with two examples to practice applying postulates and theorems to statements about angles and parallel lines.
This document summarizes the key concepts of supply and demand. It defines markets as groups of buyers and sellers and explains that supply and demand refer to how people interact in markets. The four types of market structures are also defined. The document then explains the demand curve, factors that shift the demand curve, market demand, and the difference between changes in quantity demanded versus changes in demand. Similar concepts of the supply curve, determinants of supply, and changes in supply versus quantity supplied are outlined. The document concludes by explaining market equilibrium and how changes in supply or demand can shift equilibrium price and quantity.
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.
This document provides an overview of demand and supply concepts including:
- The demand curve illustrates the relationship between price and quantity demanded, with demand decreasing as price increases.
- The supply curve shows the relationship between price and quantity supplied, with supply increasing as price rises.
- Market equilibrium is reached at the price where quantity demanded equals quantity supplied.
The document provides an overview of supply and demand concepts in economics. It defines key terms like supply, demand, equilibrium, and how shifts in supply and demand curves impact equilibrium price and quantity. Supply and demand describe the relationship between price and quantity in a competitive market, where equilibrium is reached at the price where quantity supplied equals quantity demanded.
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]
This document discusses how shifts in both supply and demand can impact the equilibrium price and quantity in a market. It provides an example where the supply of salmon decreases due to a drought and the demand for salmon increases due to a medical report on its health benefits. Graphically, a decrease in supply shifts the supply curve left and an increase in demand shifts the demand curve right. The combined effect is an increase in the equilibrium price, but the impact on equilibrium quantity is ambiguous as the shifts counteract each other along the quantity axis.
This document discusses demand, supply, and market equilibrium. It provides the following key points:
1) Demand is the relationship between price and the quantity consumers are willing and able to purchase. Supply is the relationship between price and the quantity producers are willing and able to provide.
2) The demand curve slopes downward and the supply curve slopes upward, showing that quantity demanded increases with lower prices and quantity supplied increases with higher prices.
3) Market equilibrium occurs where the supply and demand curves intersect, establishing the equilibrium price where quantity supplied equals quantity demanded.
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.
The document discusses the concepts of supply and demand. It defines supply and demand, and explains the laws of supply and demand which state that demand decreases as price increases, and supply increases as price increases. It also discusses the determinants that impact supply and demand, such as price, income, number of buyers/sellers, and technology. The document explains how equilibrium is reached when supply equals demand at a certain price point, and how disequilibrium can occur when there is excess supply or excess demand.
This document provides an overview of supply and demand concepts including:
1) It defines demand as the desire, ability, and willingness of consumers to purchase a product, and explains how demand is a microeconomic concept.
2) It introduces the law of demand and explains how quantity demanded varies inversely with price. Graphs of demand schedules and curves are also presented.
3) The document then discusses factors that can cause a change in quantity demanded versus a change in demand, using examples.
4) Similar concepts of supply, including the law of supply and factors that can cause a change in quantity supplied or change in supply, are then covered.
The document provides an overview of supply and demand theory. It explains that supply and demand theory can be used to predict prices and quantities in a free market economy. The theory assumes that goods are traded in competitive markets with many buyers and sellers. Equilibrium occurs when the quantity demanded equals the quantity supplied at the market price. The law of demand states that quantity demanded varies inversely with price, while the law of supply states quantity supplied varies directly with price.
This document defines demand and discusses the key determinants and concepts related to demand, including:
1. Demand is defined as the amount of a good or service consumers will purchase at a given price. The main determinants of demand are price, income, tastes/preferences, and prices of related goods.
2. The law of demand states that, all else equal, demand increases when price decreases and decreases when price increases. Exceptions include Giffen goods, conspicuous goods, and speculative goods.
3. Elasticity measures the responsiveness of demand to changes in factors like price and income. Types of elasticity include price, income, and cross elasticity. Demand can be perfectly elastic,
This document provides an introduction to supply, demand, and market equilibrium through a PowerPoint presentation. It defines demand and supply, shows how demand and supply schedules can be represented graphically with demand and supply curves, and explains how the curves can shift due to various factors. It also introduces the concept of market equilibrium where quantity demanded equals quantity supplied, resulting in a market clearing price.
1. The document discusses the theory of consumer choice and how it relates to budget constraints and indifference curves.
2. A consumer's budget constraint shows the combinations of goods that can be afforded given income and prices, and indifference curves represent combinations of goods that provide equal satisfaction.
3. The consumer's optimal choice occurs where the highest indifference curve is tangent to the budget constraint, where the marginal rate of substitution equals the relative price.
Consumers, Producers, and the Efficiency of MarketsTuul Tuul
The document discusses welfare economics and how market equilibrium maximizes total welfare. It defines consumer surplus as the difference between what consumers are willing to pay and what they actually pay, which can be measured by the area below the demand curve. Producer surplus is defined as the difference between what producers receive and their costs, which can be measured by the area above the supply curve and below the price. The equilibrium price and quantity maximize total surplus, the sum of consumer and producer surplus, meaning the allocation of resources is efficient. However, market power or externalities can cause inefficiencies.
The document discusses the theory of demand. It introduces the law of demand, which states that demand decreases when price increases and increases when price decreases. Non-price factors that influence demand are also discussed, including income, prices of substitutes, and tastes/preferences. The document analyzes demand in the short run and how changes in demand cause the equilibrium price and quantity to rise or fall. An example is given showing how increasing gas prices led to a decrease in demand for SUVs in the US, resulting in the price of SUVs falling to a new equilibrium.
Equilibrium and disequilibrium in markets are discussed. Equilibrium occurs when quantity demanded equals quantity supplied at the equilibrium price. Disequilibrium can occur due to shortages or surpluses caused by price floors or ceilings. Price floors create surpluses while price ceilings create shortages. The government can cause disequilibrium through policies like rent control and minimum wage laws. Non-price rationing may also occur when social pressures prevent prices from reaching equilibrium.
The document discusses the economic concepts of supply and demand. It provides definitions and explanations of key terms:
1) Supply and demand are the forces that make markets work. They refer to the interactions between buyers and sellers in determining price and quantity.
2) Equilibrium is reached when the quantity supplied equals the quantity demanded at the market price. This balances the market.
3) Shifts in supply or demand curves change the equilibrium price and quantity in predictable ways according to the law of supply and demand.
This document discusses supply, including the law of supply, supply schedules, supply curves, market supply, and the differences between changes in supply versus changes in quantity supplied. The law of supply states that price and quantity supplied move directly. A supply schedule shows the quantity supplied at different prices, and a supply curve graphs this relationship. Market supply is the total supply from all firms. A change in supply is a shift of the supply curve due to factors like input prices, technology, the number of sellers, or taxes. A change in quantity supplied moves along the existing supply curve due to price changes.
This document contains a math lesson on parallelism and perpendicularity. It includes an opening prayer, activities to identify parallel and perpendicular lines using optical illusions and geometry examples, and a worksheet for students to identify different types of angles and lines related to parallelism and perpendicularity. The goal is to help students understand how to establish whether two lines are parallel or perpendicular.
The document provides an example of proving that two angles are congruent (<1 ≡ <2) given that two lines (P and Q) are parallel and cut by a transversal (l). It shows the step-by-step work, stating each statement and providing the corresponding postulate or theorem as the reason. It then provides a quiz with two examples to practice applying postulates and theorems to statements about angles and parallel lines.
This document summarizes the key concepts of supply and demand. It defines markets as groups of buyers and sellers and explains that supply and demand refer to how people interact in markets. The four types of market structures are also defined. The document then explains the demand curve, factors that shift the demand curve, market demand, and the difference between changes in quantity demanded versus changes in demand. Similar concepts of the supply curve, determinants of supply, and changes in supply versus quantity supplied are outlined. The document concludes by explaining market equilibrium and how changes in supply or demand can shift equilibrium price and quantity.
Strategi, kaedah, dan teknik pengajaran dan pembelajaran pendidikan jasmani meliputi tiga strategi utama yaitu strategi pemusatan guru, strategi pemusatan murid, dan strategi pemusatan bahan pelajaran. Dokumen ini juga membahas beberapa kaedah pengajaran seperti kuliah, demonstrasi, dan latihan serta gaya pengajaran seperti langsung dan tidak langsung.
This document discusses how to write a recession proof resume by focusing on content that answers questions for hiring managers. It recommends including details about employers, job titles, durations, and accomplishments using specifics like statistics and industry jargon. Bullets, bold, and formatting should highlight relevant achievements and guide the reader's attention. The goal is to reflect how the applicant's experiences apply to the open position.
The song describes a man who is confident in his appearance and sexuality. He enjoys attracting attention from women when he walks by or enters locations. The lyrics reference working out to maintain his fit body and being unafraid to show his passion and sexuality. He encourages women to look at his body and acknowledges that he knows he is sexy.
This document provides information on resume formats and tips for an effective resume. The three main resume formats are reverse chronological, which highlights work history; functional, which focuses on skills rather than jobs; and hybrid, which combines the two. A hybrid resume highlights skills and lists jobs in reverse order. It is best for those changing careers, with gaps in employment history, or at multiple levels. Resumes should be 1-2 pages with plenty of white space, bullet points, and a consistent font size. The header should include name, address, phone number and professional email.
This document appears to be a presentation about bathroom design and user experience. It discusses potential titles for the presentation that focus on bathroom humor but were not chosen. It then shows images of different bathroom fixtures like airblade hand dryers, urinals, and signs. The presentation concludes by thanking the audience and providing contact information for the presenter.
This document discusses parallelizing computation using MapReduce. It begins with an overview of MapReduce and how it works, breaking data into chunks that are processed in parallel by map tasks, and then combining results via reduce tasks. It then provides examples of using MapReduce to solve three problems: 1) calculating similarity between all pairs of documents, 2) parallelizing k-means clustering, and 3) finding all maximal cliques in a graph. For each problem it describes how to define the map and reduce functions to solve the problem in a data-parallel manner using MapReduce.
Ini merupaka file mata kuliah agama kristen protestan UNJ 2016 yang saya copy dari file bapak Amos.
Dosen: Dr. Amos Neolaka,MPd
Universitas Negeri Jakarta
2016
Demand refers to the desire, ability, and willingness of consumers to purchase a product at a given price. The demand schedule lists the quantity demanded at all possible prices, while the demand curve graphically depicts the relationship between price and quantity demanded according to the law of demand - which states that as price increases, demand decreases and vice versa. Changes in demand factors such as income, tastes, prices of substitutes or complements can cause the demand curve to shift left or right.
The document summarizes Chapter 3 of an economics textbook on the supply and demand model. It introduces the concepts of supply and demand curves, and how the interaction of supply and demand determines the equilibrium price in a market. It then discusses how shifts in supply or demand curves affect the equilibrium price, and how price controls like price ceilings and floors can cause surpluses or shortages by interfering with the market mechanism.
Bab i etika tanggung jwb bisnis oleh stephanie tepp S1 akuntansi A UNJ 2016stephaniejessey
Dokumen tersebut membahas tentang etika bisnis dan tanggung jawab sosial perusahaan. Secara garis besar dibahas definisi etika bisnis, pendekatan-pendekatan dalam etika bisnis, tanggung jawab sosial perusahaan, dan studi kasus mengenai etika bisnis pada peternakan ayam. Dokumen ini memberikan panduan umum tentang pentingnya menerapkan etika bisnis dan tanggung jawab sosial bagi keberlanjutan usaha.
The document discusses the different types of changes in demand. It defines demand and explains the demand function. There are two types of changes in demand: (1) Extension or contraction of demand due to changes in price with other factors remaining the same, which results in movement along the demand curve. (2) Shift in demand due to changes in factors other than price with price remaining the same, resulting in the demand curve shifting up or down. An upward shift represents increasing demand while a downward shift represents decreasing demand.
The document summarizes the economic theory of supply and demand. It defines key concepts such as markets, demand, supply, and equilibrium price. Demand is determined by factors like income, wealth, prices of substitutes and complements, population, expected price, and tastes. Supply is determined by the costs of production faced by firms. The interaction of supply and demand forces in a competitive market determines the equilibrium price and quantity traded.
This document discusses supply and demand in competitive markets. It defines key concepts such as:
- Equilibrium, which occurs when quantity supplied equals quantity demanded at the equilibrium price.
- How demand and supply curves are determined by individual demand and supply schedules adding up horizontally.
- Factors that cause demand and supply curves to shift, such as changes in income, prices of related goods, technology.
- Surpluses and shortages that result when price is above or below equilibrium.
The supply and demand framework shows how competitive markets work to clear with equilibrium price and quantity through the interaction of buyers and sellers.
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.
1. The document discusses the concepts of supply and demand, explaining how producers supply more at higher prices while consumers consume less, and vice versa at lower prices.
2. It provides examples of supply and demand curves, showing the relationship between price and quantity supplied/demanded on a graph. It demonstrates how shifts in supply or demand curves impact the price and quantity in the market.
3. The key factors that can cause supply curves to shift, such as input costs, technology, taxes, and expectations, are outlined.
The document discusses demand, supply, and market equilibrium. It defines demand as the quantity of a good consumers are willing and able to purchase at different prices. The law of demand states that quantity demanded increases when price decreases and decreases when price increases. Supply is defined as the quantity of a good producers are willing to provide at different prices, with the law of supply stating that quantity supplied increases with price. Market equilibrium occurs when quantity demanded equals quantity supplied at the market clearing price. The document uses graphs to illustrate the interaction of demand and supply and how equilibrium is impacted by shifts in demand or supply.
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.
The document defines key economic concepts related to demand and supply in markets including:
- Demand curves which show the quantity demanded at different price points based on consumer preferences and income.
- Supply curves which show the quantity supplied at different price points based on production costs and input prices.
- Market equilibrium where the demand and supply curves intersect and quantity demanded equals quantity supplied.
- How shifts in demand or supply curves impact price and quantity in the market.
1. A firm transforms inputs into outputs and is the primary producing unit in a market economy, while a household is the consuming unit. An entrepreneur organizes and manages a firm, taking risks.
2. The theory of demand and supply can be used to predict prices and quantities in perfectly competitive markets where many buyers and sellers trade identical goods. It assumes firms maximize profits and consumers maximize utility.
3. According to the theory, the quantity demanded decreases when price rises and increases when price falls, while the quantity supplied increases when price rises and decreases when price falls, all other factors unchanged.
- Supply and demand are the fundamental market forces that determine price and quantity in a competitive market. The demand curve shows that quantity demanded falls as price rises, while the supply curve shows that quantity supplied rises as price rises.
- Equilibrium occurs where supply and demand are equal, establishing a market clearing price and quantity. If supply or demand shifts, the equilibrium also shifts to a new price and quantity. For example, an increase in demand raises price and quantity while a decrease in supply raises price and lowers quantity.
The document discusses the concepts of demand, supply, and market equilibrium in commodity markets. It defines demand and supply schedules, graphs demand and supply curves, and shows how equilibrium price and quantity are determined by the intersection of the demand and supply curves. It explains how changes in demand or supply can lead to surpluses or shortages and discusses the role of prices in rationing goods in markets. Government policies like price ceilings and floors are also introduced.
This document discusses the market forces of supply and demand. It defines key economic concepts such as markets, demand, supply, and how equilibrium price and quantity are determined through the interaction of buyers and sellers. Demand is influenced by factors like income, prices of related goods, and tastes. Supply is influenced by input prices, technology, and expectations about the future. A change in any of these factors can cause the demand or supply curve to shift, resulting in a new equilibrium.
2. Macro Economics..demand & supplyVIKAS SHARMA
The document discusses the economic concepts of supply and demand. It defines supply and demand as the forces that determine price and quantity in a market. Supply refers to the amount sellers are willing to offer at different prices, while demand refers to the amount buyers are willing to purchase. The relationship between price and quantity supplied/demanded is shown through supply/demand schedules and curves. Equilibrium occurs when quantity supplied equals quantity demanded at the equilibrium price. The document outlines various factors that can cause shifts in supply or demand curves and discusses how such shifts impact the equilibrium price and quantity.
The document discusses the market forces of supply and demand. It defines demand and supply, and explains how demand and supply curves are determined by various factors. The demand curve shows the relationship between price and quantity demanded, while the supply curve shows the relationship between price and quantity supplied. The market reaches equilibrium when quantity demanded equals quantity supplied at the market price.
This chapter discusses supply and demand in markets. It will cover factors that affect demand and supply, how equilibrium price and quantity are determined, and how markets allocate resources. Key topics include the demand curve and how it shifts with changes in price, income, tastes; the supply curve and how it shifts with input prices, technology, number of sellers. The chapter analyzes how equilibrium is reached where quantity demanded equals quantity supplied and how surpluses and shortages occur away from equilibrium.
The document discusses supply and demand. It provides examples of how producers supply more of a good at higher prices due to increased opportunity costs, while consumers consume less at higher prices due to having less money to spend. The key factors that can shift supply curves, such as input costs, technology, taxes, and expectations about future prices are also summarized.
The document discusses supply and demand. It provides examples of how producers supply more at higher prices due to increased opportunity costs, while consumers consume less at higher prices due to having less money to spend. The key factors that can shift supply curves, such as input costs, technology, taxes, and expectations about future prices are also summarized.
The document summarizes the economic concepts of supply and demand. It defines supply and demand as the forces that determine price and quantity in a market. The relationship between each is shown via supply and demand curves - demand curves slope downward while supply curves slope upward. Equilibrium occurs where supply and demand are equal, establishing a market clearing price and quantity. Changes in determinants like income, input costs, or expectations can cause the curves to shift and disrupt equilibrium.
This document discusses microeconomic concepts related to supply and demand. It defines key terms like market, demand, supply, competitive market, and equilibrium. It explains the laws of supply and demand - as price increases, quantity demanded decreases and quantity supplied increases. Graphs and diagrams are used to illustrate demand and supply schedules and curves, and how equilibrium price and quantity are determined by the intersection of the demand and supply curves. Shifts in demand and supply are also explained.
1. The document discusses the economic concepts of demand, supply, and equilibrium.
2. It explains that demand is represented by a demand curve showing the relationship between price and quantity demanded, and that it typically slopes downward as price increases according to the law of demand. Supply is represented similarly by a supply curve.
3. The document also introduces the concept of market equilibrium, which occurs where the supply and demand curves intersect and quantity supplied equals quantity demanded.
This document discusses different types of demand, including:
1. Conventional perspectives on free goods, public goods, and economic goods. Islamic perspectives on al-tayyibat and al-rizq.
2. The relationship between price and quantity demanded as shown through demand schedules and curves. Individual demand curves summing to market demand.
3. Factors that can cause shifts in the demand curve, such as changes in income, tastes, prices of related goods, expectations, and market size. The differences between changes in quantity demanded versus changes in demand.
Dokumen tersebut membahas tentang analisis permintaan dan penawaran. Secara umum, dibahas mengenai konsep permintaan sebagai jumlah barang yang diminta konsumen pada tingkat harga tertentu, serta penawaran sebagai jumlah barang yang ditawarkan produsen pada tingkat harga tertentu. Selanjutnya dibahas pula model matematis dan faktor-faktor yang mempengaruhi fungsi permintaan dan penawaran.
Dokumen tersebut merupakan materi perkuliahan tentang keseimbangan umum pasar uang dan barang. Materi ini menjelaskan tentang model IS-LM, kurva IS dan LM, serta interaksi antara pasar uang dan barang dalam mencapai keseimbangan umum. Diuraikan pula pengaruh kebijakan moneter dan fiskal terhadap pergeseran kurva dan titik keseimbangan baru.
Dokumen tersebut membahas tentang pasar persaingan monopolistik yang merupakan salah satu jenis pasar persaingan tak sempurna. Pasar ini dicirikan oleh adanya banyak produsen yang memproduksi barang berbeda tetapi sejenis, serta produsen memiliki sedikit pengaruh untuk menentukan harga.
Tiga kalimat ringkasan dokumen tersebut adalah:
1. Dokumen tersebut membahas faktor-faktor yang mendorong masyarakat Jepang untuk lebih menyukai produk dalam negeri daripada produk impor, seperti kesadaran akan pentingnya inovasi, dukungan pemerintah, serta komitmen produsen terhadap pelanggan.
2. PT. PLN sebagai satu-satunya perusahaan listrik di Indonesia beroperasi sebagai monopoli
Bab 9 ppt memotivasi karyawan - stephanie akuntansi A UNJ 2016stephaniejessey
Dokumen tersebut membahas tentang pentingnya memotivasi dan memimpin karyawan dengan baik, strategi untuk meningkatkan kepuasan dan semangat kerja karyawan, serta pengaruh gaya kepemimpinan terhadap kinerja karyawan."
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Bab 9 daftar isi memotivasi karyawan - stephanie akuntansi A UNJ 2016stephaniejessey
Dokumen ini membahas tentang pentingnya kepuasan dan semangat kerja karyawan bagi organisasi. Bab pertama membahas latar belakang, perumusan masalah, dan tujuan penulisan dokumen. Bab selanjutnya membahas kontrak psikologis, motivasi, dan strategi meningkatkan kepuasan kerja seperti gaya kepemimpinan. Bab penutup berisi kesimpulan dan contoh kasus.
This document contains accounting journal entries, trial balances, and ledger accounts. It includes unadjusted and adjusted trial balances, closing entries, adjusting entries, and individual ledger accounts showing debit, credit, balance, and transaction details for multiple accounts.
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Ini merupaka file mata kuliah agama kristen protestan UNJ 2016 yang saya copy dari file bapak Amos.
Dosen: Dr. Amos Neolaka,MPd
Universitas Negeri Jakarta
2016
Ini merupaka file mata kuliah agama kristen protestan UNJ 2016 yang saya copy dari file bapak Amos.
Dosen: Dr. Amos Neolaka,MPd
Universitas Negeri Jakarta
2016
Ini merupaka file mata kuliah agama kristen protestan UNJ 2016 yang saya copy dari file bapak Amos.
Dosen: Dr. Amos Neolaka,MPd
Universitas Negeri Jakarta
2016
Ini merupaka file mata kuliah agama kristen protestan UNJ 2016 yang saya copy dari file bapak Amos.
Dosen: Dr. Amos Neolaka,MPd
Universitas Negeri Jakarta
2016
Tatap muka 3 pribadi anak allah yg ber-integritasstephaniejessey
Ini merupaka file mata kuliah agama kristen protestan UNJ 2016 yang saya copy dari file bapak Amos.
Dosen: Dr. Amos Neolaka,MPd
Universitas Negeri Jakarta
2016
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3. WHAT YOU WILL LEARN IN THIS CHAPTER
What a competitive market is and how it is
described by the supply and demand model
What the demand curve and supply curve are
movements along a curve and shifts of a curve
How the supply and demand curves determine a
market’s equilibrium price and equilibrium
quantity
4. Supply and Demand
A competitive market:
Many buyers and sellers
Same good or service
The supply and demand model is a model of how
a competitive market works.
Five key elements:
Demand curve
Supply curve
Demand and supply curve shifts
Market equilibrium
Changes in the market equilibrium
5. Demand Schedule
A demand schedule shows how much of a good or
service consumers will want to buy at different
prices.
6. Why does the Demand Curve Slope Downward?
Law of Demand
Inverse relationship between price and quantity.
Law of Diminishing Marginal Utility.
Utility is the extra satisfaction that one receives from
consuming a product.
Marginal means extra.
Diminishing means decreasing.
7. Demand Curve
A demand curve is the
graphical representation
of the demand schedule;
it shows how much of a
good or service
consumers want to buy at
any given price.
70 9 11 1513 17
$2.00
1.75
1.50
1.25
1.00
0.75
0.50
Price of
coffee bean
(per gallon)
Quantity of coffee beans
(billions of pounds)
Demand
curve, D
As price rises,
the quantity
demanded falls
7.1
7.5
8.1
8.9
10.0
11.5
14.2
Price of
coffee
beans
(per pound)
Quantity of coffee
beans demanded
(billions of
pounds)
1.75
1.50
1.25
1.00
0.75
0.50
$2.00
Demand Schedule for Coffee Beans
8. Demand Curve
A demand curve is the
graphical representation
of the demand schedule;
it shows how much of a
good or service
consumers want to buy at
any given price.
70 9 11 1513 17
$2.00
1.75
1.50
1.25
1.00
0.75
0.50
Price of
coffee bean
(per gallon)
Quantity of coffee beans
(billions of pounds)
Demand
curve, D
As price rises,
the quantity
demanded falls
7.1
7.5
8.1
8.9
10.0
11.5
14.2
Price of
coffee
beans
(per pound)
Quantity of coffee
beans demanded
(billions of
pounds)
1.75
1.50
1.25
1.00
0.75
0.50
$2.00
Demand Schedule for Coffee Beans
What if
Demand
Increases?
9. An Increase in Demand
A shift of the demand curve is a change in the quantity demanded at any
given price, represented by the change of the original demand curve to a new
position, denoted by a new demand curve.
Increase inIncrease in
populationpopulation
more coffeemore coffee
drinkersdrinkers
Price of
coffee beans
(per gallon)
70 9 11 1513 17
$2.00
1.75
1.50
1.25
1.00
0.75
0.50 D
1
D
2
Demand curve
in 2006
Demand curve
in 2002
Quantity of coffee beans
(billions of pounds)
7.1
7.5
8.1
8.9
10.0
11.5
14.2
8.5
9.0
9.7
10.7
12.0
13.8
17.0
in 2002 in 2006
$2.00
1.75
1.50
1.25
1.00
0.75
0.50
Price of
coffee beans
(per pound)
Quantity of coffee
beans demanded
(billions of
pounds)
Demand Schedules for Coffee Beans
10. Demand Curve
A demand curve is the
graphical representation
of the demand schedule;
it shows how much of a
good or service
consumers want to buy at
any given price.
70 9 11 1513 17
$2.00
1.75
1.50
1.25
1.00
0.75
0.50
Price of
coffee bean
(per gallon)
Quantity of coffee beans
(billions of pounds)
Demand
curve, D
As price rises,
the quantity
demanded falls
7.1
7.5
8.1
8.9
10.0
11.5
14.2
Price of
coffee
beans
(per pound)
Quantity of coffee
beans demanded
(billions of
pounds)
1.75
1.50
1.25
1.00
0.75
0.50
$2.00
Demand Schedule for Coffee Beans
What if
Demand
Decreases?
11. Movement Along the Demand Curve
7 8.1 9.70 10 1513 17
$2.00
1.75
1.50
1.25
1.00
0.75
0.50 D
1
D
2
A C
B
A shift of the
demand curve…
… is not the same
thing as a movement
along the demand
curve
Price of
coffee
beans (per
gallon)
Quantity of coffee
beans (billions of
pounds)
A movement along the demand
curve is a change in the
quantity demanded of a good
that is the result of a change in
that good’s price.
15. What Causes a Demand Curve to Shift?
Changes in the Prices of Related Goods
Substitutes: Two goods are substitutes if a fall in the
price of one of the goods makes consumers less willing
to buy the other good.
Complements: Two goods are complements if a fall in
the price of one good makes people more willing to buy
the other good.
16. What Causes a Demand Curve to Shift?
Changes in Income
Normal Goods: When a rise in income increases the
demand for a good - the normal case - we say that the
good is a normal good.
Inferior Goods: When a rise in income decreases the
demand for a good, it is an inferior good.
Changes in Tastes
Changes in Expectations
17. Individual Demand Curve and the Market Demand Curve
The market demand curve is the horizontal sum of the
individual demand curves of all consumers in that market.
DDarla DDino
0 0 10 203020 0
$2
1
$2
1
$2
1
30 40 50
DMarket
(a)
Darla’s Individual
Demand Curve
(b)
Dino’s Individual
Demand Curve
(c)
Market Demand Curve
Price of
coffee
beans (per
pound)
Price of
coffee
beans (per
pound)
Price of
coffee
beans (per
pound)
Quantity of coffee
beans (pounds)
Quantity of coffee
beans (pounds)
Quantity of coffee
beans (pounds)
18. LAW OF SUPPLY
As Price Rises…
…Quantity Supplied Rises
As Price Falls…
…Quantity Supplied Falls
19. DETERMINANTS OF SUPPLY
Resource Prices
Technology
Taxes & Subsidies
Prices of Other Goods
Price Expectations
Number of Sellers
20. 5
P
Qo
$5
4
3
2
1
10 20 30 40 50 60 70 80
$5
4
3
2
1
60
50
35
20
5
P QS
Price of Corn
Quantity of Corn
CORN
Plot the
Points
GRAPHING SUPPLY
21. P
Qo
$5
4
3
2
1
10 20 30 40 50 60 70 80
$5
4
3
2
1
60
50
35
20
5
P QS
Price of Corn
Quantity of Corn
CORN
Plot the
Points
GRAPHING SUPPLY
22. 35
P
Qo
$5
4
3
2
1
10 20 30 40 50 60 70 80
$5
4
3
2
1
60
50
35
20
5
P QS
Price of Corn
Quantity of Corn
CORN
Plot the
Points
GRAPHING SUPPLY
23. P
Qo
$5
4
3
2
1
10 20 30 40 50 60 70 80
$5
4
3
2
1
60
50
35
20
5
P QS
Price of Corn
Quantity of Corn
CORN
Plot the
Points
GRAPHING SUPPLY
24. P
Qo
$5
4
3
2
1
10 20 30 40 50 60 70 80
$5
4
3
2
1
60
50
35
20
5
P QS
Price of Corn
Quantity of Corn
CORN
Plot the
Points
GRAPHING SUPPLY
25. S
P
Qo
$5
4
3
2
1
10 20 30 40 50 60 70 80
$5
4
3
2
1
60
50
35
20
5
P QS
Price of Corn
Quantity of Corn
CORN
Plot the
Points
Connect the
Points
GRAPHING SUPPLY
26. S
P
Qo
$5
4
3
2
1
10 20 30 40 50 60 70 80
$5
4
3
2
1
60
50
35
20
5
P QS
Price of Corn
Quantity of Corn
CORN
What if
Supply
Increases?
GRAPHING SUPPLY
27. S
P
Qo
$5
4
3
2
1
10 20 30 40 50 60 70 80
Price of Corn
Quantity of Corn
$5
4
3
2
1
60
50
35
20
5
P QS
CORN
80
70
60
45
30
S’Increase
in
Supply
Increase
in Quantity
Supplied
GRAPHING SUPPLY
28. S
P
Qo
$5
4
3
2
1
10 20 30 40 50 60 70 80
$5
4
3
2
1
60
50
35
20
5
P QS
Price of Corn
Quantity of Corn
CORN
What if
Supply
Decreases?
GRAPHING SUPPLY
29. S
P
Qo
$5
4
3
2
1
10 20 30 40 50 60 70 80
$5
4
3
2
1
60
50
35
20
5
P QS
Price of Corn
Quantity of Corn
CORN
S’
45
30
20
0
--
Decrease
in
Supply
Decrease
in Quantity
Supplied
GRAPHING SUPPLY
32. S
P
Qo
$5
4
3
2
1
10 20 30 40 50 60 70 80
$5
4
3
2
1
60
50
35
20
5
P QS
Price of Corn
Quantity of Corn
CORN
Combining
with
Demand
GRAPHING SUPPLY
33. MARKET DEMAND & SUPPLY
$5
4
3
2
1
10
20
35
55
80
$5
4
3
2
1
60
50
35
20
5
x
200
B
U
Y
E
R
S
P QD
BUSHELS
OF CORN
MARKE
T
DEMAN
D2,000
4,000
7,000
11,000
16,000
x
200
S
E
L
L
E
R
S
12,000
10,000
7,000
4,000
1,000
P QS
BUSHELS
OF CORN
MARKE
T
SUPPLY
EQUILIBRIUM
Graphically…
34. 7
S
P
Qo
$5
4
3
2
1
2 4 6 8 10 12 14 16
P QD
$5
4
3
2
1
2,000
4,000
7,000
11,000
16,000
$5
4
3
2
1
12,000
10,000
7,000
4,000
1,000D
P QS
Price of Corn
Quantity of Corn
CORN
MARKET
CORN
MARKET
Market
Clearing
Equilibrium
MARKET DEMAND & SUPPLY
35. 7
S
P
Qo
$5
4
3
2
1
2 4 6 8 10 12 14 16
P QD
$5
4
3
2
1
2,000
4,000
7,000
11,000
16,000
$5
4
3
2
1
12,000
10,000
7,000
4,000
1,000D
P QS
Price of Corn
Quantity of Corn
CORN
MARKET
CORN
MARKETSurplus
At a $4 price
more is being
supplied than
demanded
MARKET DEMAND & SUPPLY
36. 117
S
P
Qo
$5
4
3
2
1
2 4 6 8 10 12 14 16
P QD
$5
4
3
2
1
2,000
4,000
7,000
11,000
16,000
$5
4
3
2
1
12,000
10,000
7,000
4,000
1,000D
P QS
Price of Corn
Quantity of Corn
CORN
MARKET
CORN
MARKET
At a $2 price
more is being
demanded than
supplied
Shortage
MARKET DEMAND & SUPPLY
37. Market Disequilibria
Excess demand, or
shortage, is the condition
that exists when quantity
demanded exceeds
quantity supplied at the
current price.
• When quantity demandedWhen quantity demanded
exceeds quantity supplied,exceeds quantity supplied,
price tends to rise untilprice tends to rise until
equilibrium is restored.equilibrium is restored.
38. Market Disequilibria
Excess supply, or
surplus, is the condition
that exists when quantity
supplied exceeds quantity
demanded at the current
price.
• When quantity suppliedWhen quantity supplied
exceeds quantity demanded,exceeds quantity demanded,
price tends to fall untilprice tends to fall until
equilibrium is restored.equilibrium is restored.
39. Increases in Demand and Supply
Higher demand leads to
higher equilibrium price and
higher equilibrium quantity.
Higher supply leads to
lower equilibrium price and
higher equilibrium quantity.
40. Decreases in Demand and Supply
Lower demand leads to
lower price and lower
quantity exchanged.
Lower supply leads to
higher price and lower
quantity exchanged.
41. Relative Magnitudes of Change
• The relative magnitudes of change in supply and demandThe relative magnitudes of change in supply and demand
determine the outcome of market equilibrium.determine the outcome of market equilibrium.
42. Relative Magnitudes of Change
• When supply and demand both increase, quantity willWhen supply and demand both increase, quantity will
increase, but price may go up or down.increase, but price may go up or down.
43. (contoh kasus)
Permintaan suatu barang ditunjukkan dengan
persamaan
Q = 60 – 10P;
dan penawaran barang ditunjukkan dengan
persamaan
Q = 5P + 15. dimana Q adalah jumlah barang
dan P adalah harga. Buatlah :
(a)skedul keseimbangan (ekuilibrium) dan
(b)gambarkan kurva keseimbangan permintaan
dan penawaran barang tersebut
44. Jawab:
(a) Skedul;
Harga (P) 2 3 4
Jml Diminta 40 30 20
Jml Ditawarkan 25 30 35
P
Q0
D
; Q
= 60 -10P
3
30
S
; Q
=
5P
+
15
(b) Keseimbangan secara matematis;
Qs = Qd
5P + 15 = 60 – 10P 15P = 45
Maka P = 3 dan Q = 30
45. Mekanisme Pasar
Di ketahui :
Qd = 40 – 5P;
Qs = 7P + 10.
Buatlah (a) hitunglah keseimbangan Q dan P lalu gambarkan kurva
permintaan dan penawaran, (b) gambarkan kurva keseimbangan
permintaan dan penawaran barang tersebut
46. DEMAND ANALYSIS
- Demand (Permintaan) adalah kuantitas barang atau jasa yg. rela atau mampu dibeli
oleh konsumen selama periode waktu tertentu berdasarkan kondisi-kondisi tertentu.
- Model matematis konsep permintaan barang atau jasa :
QDX = F (PX, I, PR, PE, IE, PAE, T, N, A, F, O)
Dimana :
QDX = kuantitas permintaan barang atau jasa
F = fungsi, berarti fungsi dari atau tergantung pada
PX = harga dari barang atau jasa X
I = pendapatan konsumen
PR = harga dari barang lain yang bersangkutan
PE = ekspektasi konsumen terhadap harga dari barang/jasa X di masa mendatang
IE = ekspektasi konsumen terhadap tingkat pendapatan di masa mendatang
PAE = ekspektasi konsumen thdp. ketersediaan barang / jasa X di masa mendatang
T = selera konsumen
N = banyaknya konsumen potensial
A = pengeluaran iklan
F = features atau atribut dari barang / jasa tersebut
O = faktor-faktor spesifik lain dari permintaan barang / jasa tersebut
47. CONTOH SOAL DEMAND ANALYSIS
Permintaan TV berwarna (20 inchi) ditemukan fungsi permintaan secara umum
sebagai berikut : QDX = -1,4 – 15 PX + 7,5 PR + 2,6 I + 2,5 A
QDX = kuantitas permintaan TV berwarna (ribuan unit)
PX = harga dari TV berwarna (ratusan ribu rupiah)
PR = harga TV dari merk lain (ratusan ribu rupiah)
I = pendapatan konsumen (jutaan rupiah per tahun)
A = pengeluaran iklan produk TV tersebut (ratusan juta rupiah per tahun)
Contoh :
Tahun 2013, harga rata-rata TV berwarna 20 inchi Samsung di DKI Rp.
1,1 juta; harga TV berwarna merk lain Rp. 0,9 juta; rata-rata pendapatan
konsumen Rp. 10 juta per tahun dan total pengeluaran iklan untuk TV
berwarna Samsung 20 inchi Rp. 5 milyar.
- Tentukan fungsi permintaan TV berwarna Samsung 20 inchi !
- Hitunglah besar kuantitas permintaan TV berwarna Samsung 20 inchi !
- Gambarkan fungsi Demand tersebut !
48. SUPPLY ANALYSIS
- Supply (penawaran) adalah kuantitas produk yang ditawarkan atau dijual di
pasar yang secara umum sangat tergantung pada sejumlah variabel.
- Model matematis konsep penawaran produk :
QSX = F (PX, PI, PR, T, PE, NF, O)
Dimana :
QSX = kuantitas penawaran produk X
F = fungsi, berarti fungsi dari atau tergantung pada
PX = harga dari produk X
PI = harga input yang digunakan untuk memproduksi produk X
PR = harga dari produk lain (pengganti)
T = tingkat teknologi yang tersedia
PE = ekspektasi produsen terhadap harga produk X di masa mendatang
NF = banyaknya perusahaan yang memproduksi produk yang sama
O = faktor-faktor spesifik lain dari penawaran produk tersebut
53. CONTOH SOAL SUPPLY ANALYSIS
Fungsi penawaran ruang pusat perbelanjaan (mall) di Surabaya tahun 1996
adalah sebagai berikut : QSX = 325 + 7 PX – 0,25 PI – 8 PR + 5 NF
QSX = kuantitas penawaran sewa ruang mall (000 m²)
PX = harga sewa mall (US $ / m² / bln.)
PI = harga input pembangunan mall (US $ / m²)
PR = harga sewa ruang perkantoran (US $ / m²)
NF = banyaknya pengembang yang menawarkan sewa ruang mall
(unit perusahaan)
Contoh :
Apabila rata-rata harga sewa mall US $ 75 / m² / bln. Dan rata-rata biaya
pembangunan (harga input) ruangan mall US $ 500 / m², rata-rata harga
sewa ruang perkantoran US $ 25 / m² / bln., jumlah pengembang yang
menawarkan sewa ruang mall 20 perusahaan.
- Tentukan fungsi penawaran !
- Hitunglah besar kuantitas penawaran sewa ruang mall (000 m²) !
- Gambarkan fungsi Supply tersebut !
54. Simultaneous Shifts of Supply and Demand
Two opposing forces
determining the
equilibrium quantity.
The increase in
demand dominates the
decrease in supply.
Quantity of coffeeQ2
Q
1
P
2
P
1
S
2
D
2
D
1
S
1
E
1
E
2
(a) One possible outcome: Price Rises, Quantity Rises
Price of coffee
Small decrease
in supply
Large increase
in demand
55. Simultaneous Shifts of Supply and Demand
Two opposing forces
determining the
equilibrium quantity.
Q
1
Q
2
P
2
P
1
S
2
D
2
D
1
S
1
E
1
E
2
(b) Another Possibility Outcome: Price Rises, Quantity Falls
Price of coffee
Quantity of coffee
Large
decrease
in supply
Small increase
in demand
56. Simultaneous Shifts of Supply and Demand
We can make the following predictions about the outcome when
the supply and demand curves shift simultaneously:
Simultaneous
Shifts of
Supply and
Demand
Supply Increases Supply Decreases
Demand
Increases
Price: ambiguous
Quantity: up
Price: up
Quantity: ambiguous
Demand
Decreases
Price: down
Quantity: ambiguous
Price: ambiguous
Quantity: down
57. A recent drought in Australia reduced the amount of grass
on which Australian dairy cows could feed, thus limiting the
amount of milk these cows produced for export.
At the same time, a new tax levied by the government of
Argentina raised the price of the milk the country exported,
thereby decreasing Argentine milk sales worldwide.
These two developments produced a supply shortage in the
world market, which dairy farmers in Europe couldn’t fill
because of strict production quotas set by the European
Union.
Demand and Supply Shifts at Work in the Global
Economy
58. In China, meanwhile, demand for milk and milk
products increased, as rising income levels drove
higher per-capita consumption.
All these occurrences resulted in a strong upward
pressure on the price of milk everywhere in 2007.
Demand and Supply Shifts at Work in the Global
Economy
59. SUMMARY
1. The supply and demand model illustrates how a
competitive market works.
2. The demand schedule shows the quantity demanded at
each price and is represented graphically by a demand
curve. The law of demand says that demand curves slope
downward.
3. A movement along the demand curve occurs when a
price change leads to a change in the quantity demanded.
When economists talk of increasing or decreasing demand,
they mean shifts of the demand curve—a change in the
quantity demanded at any given price.
60. SUMMARY
4. There are five main factors that shift the demand curve:
• A change in the prices of related goods or services
• A change in income
• A change in tastes
• A change in expectations
• A change in the number of consumers
4. The market demand curve for a good or service is the
horizontal sum of the individual demand curves of all
consumers in the market.
5. The supply schedule shows the quantity supplied at
each price and is represented graphically by a supply
curve. Supply curves usually slope upward.
61. SUMMARY
7. A movement along the supply curve occurs when a price
change leads to a change in the quantity supplied. When
economists talk of increasing or decreasing supply, they
mean shifts of the supply curve—a change in the
quantity supplied at any given price.
8. There are five main factors that shift the supply curve:
• A change in input prices
• A change in the prices of related goods and services
• A change in technology
• A change in expectations
• A change in the number of producers
9. The market supply curve for a good or service is the
horizontal sum of the individual supply curves of all
producers in the market.
62. SUMMARY
10. The supply and demand model is based on the principle
that the price in a market moves to its equilibrium price,
or market-clearing price, the price at which the quantity
demanded is equal to the quantity supplied. This quantity
is the equilibrium quantity. When the price is above its
market-clearing level, there is a surplus that pushes the
price down. When the price is below its market-clearing
level, there is a shortage that pushes the price up.
11. An increase in demand increases both the equilibrium
price and the equilibrium quantity; a decrease in demand
has the opposite effect. An increase in supply reduces the
equilibrium price and increases the equilibrium quantity; a
decrease in supply has the opposite effect.
12. Shifts of the demand curve and the supply curve can
happen simultaneously.
63. SUMMARY Supply Schedule
• A supply schedule
shows how much of a
good or service
would be supplied at
different prices.
Supply Schedule for Coffee Beans
Price of
coffee beans
(per pound)
Quantity of
coffee beans
supplied
(billions of
pounds)
$2.00 11.6
1.75 11.5
1.50 11.2
1.25 10.7
1.00 10.0
0.75 9.1
0.50 8.0
64. SUMMARY Supply Curve
Quantity of coffee beans (billions of pounds)
Price of coffee
beans (per pound)
70 9 11 1513 17
$2.00
1.75
1.50
1.25
1.00
0.75
0.50
As price rises, the
quantity supplied
rises.
A supply
curve shows
graphically
how much of
a good or
service
people are
willing to sell
at any given
price.
Supply
curve, S
Supply Schedule for
Coffee Beans
Price of
coffee beans
(per pound)
Quantity of
coffee beans
supplied
(billions of
pounds)
$2.00 11.6
1.75 11.5
1.50 11.2
1.25 10.7
1.00 10.0
0.75 9.1
0.50 8.0
65. SUMMARY An Increase in Supply
Supply Schedule for Coffee Beans
Price of
coffee beans
(per pound)
Quantity of beans supplied
(billions of pounds)
In 2002 In 2006
$2.00 11.6 13.9
1.75 11.5 13.8
1.50 11.2 13.4
1.25 10.7 12.8
1.00 10.0 12.0
0.75 9.1 10.9
0.50 8.0 9.6
66. SUMMARY An Increase in Supply
A shift of the supply curve is a change in the quantity supplied of a good at any given
price.
70 9 11 13 15 17
$2.00
1.75
1.50
1.25
1.00
0.75
0.50
S
1
S
2
Price of coffee
beans (per
pound)
Quantity of coffee beans
(billions of pounds)
… is not the
same thing as a
shift of the
supply curve
A movement
along the
supply curve…
Supply Schedule for Coffee
Beans
Price of
coffee
beans
(per
pound)
Quantity of beans
supplied
(billions of pounds)
In 2002 In 2006
$2.00 11.6 13.9
1.75 11.5 13.8
1.50 11.2 13.4
1.25 10.7 12.8
1.00 10.0 12.0
0.75 9.1 10.9
0.50 8.0 9.6
67. SUMMARY
Movement Along the Supply Curve
A movement along the supply curve is a change in the quantity supplied of a
good that is the result of a change in that good’s price.
70 10 11.2 12 15 17
$2.00
1.75
1.50
1.25
1.00
0.75
0.50
S
1
S
2
A
C
B
Price of coffee
beans (per
pound)
Quantity of coffee beans
(billions of pounds)
… is not the
same thing as
a shift of the
supply curve
A movement
along the supply
curve…
68. SUMMARY
Any “increase in
supply” means a
rightward shift of the
supply curve: at any
given price, there is an
increase in the quantity
supplied. (S1 S2)
Shifts of the Supply Curve
S
3
S
1
S
2
Price
Quantity
Decrease in
supply
Increase in
supply
Any “decrease in
supply” means a
leftward shift of the
supply curve: at any
given price, there is a
decrease in the
quantity supplied.
(S1 S3)
69. SUMMARY
• Changes in input prices
– An input is a good that is used to produce
another good.
• Changes in the prices of related goods and
services
• Changes in technology
• Changes in expectations
• Changes in the number of producers
What Causes a Supply Curve to Shift?
70. SUMMARY
Individual Supply Curve and the Market Supply
CurveThe market supply curve is the horizontal sum of the individual
supply curves of all firms in that market.
SFigueroa SBien Pho
1 2 31 22 31 4 500 0
$2
1
$2
1
$2
1
SMarket
(a)
Mr. Figueroa’s
Individual Supply Curve
(b)
Mr. Bien Pho’s Individual
Supply Curve
(c)
Market Supply Curve
Price of
coffee
beans (per
pound)
Price of
coffee
beans (per
pound)
Price of
coffee
beans (per
pound)
Quantity of coffee
beans (pounds)
Quantity of coffee
beans (pounds)
Quantity of coffee
beans (pounds)
71. SUMMARY
Supply, Demand and Equilibrium
• Equilibrium in a competitive market: when
the quantity demanded of a good equals
the quantity supplied of that good.
72. SUMMARY
Market equilibrium
occurs at point E,
where the supply
curve and the demand
curve intersect.
Price of
coffee beans
(per pound)
Quantity of coffee beans
(billions of pounds)
70 10 1513 17
$2.00
1.75
1.50
1.25
1.00
0.75
0.50
Supply
Demand
E EquilibriumEquilibrium
price
Equilibrium
quantity
Market Equilibrium
73. SUMMARY
There is a surplus of a
good when the quantity
supplied exceeds the
quantity demanded.
Surpluses occur when
the price is above its
equilibrium level.
70 10 1513 17
$2.00
1.75
1.50
1.25
1.00
0.75
0.50
Supply
Demand
8.1 11.2
E
Surplus
Quantity
demanded
Quantity
supplied
Price of coffee
beans (per pound)
Quantity of coffee beans
(billions of pounds)
Surplus
74. SUMMARY
70 10 1513 17
$2.00
1.75
1.50
1.25
1.00
0.75
0.50
Supply
Demand
9.1 11.5
E
Shortage
Quantity
demanded
Quantity
supplied
Price of
coffee beans
(per pound)
Quantity of coffee beans
(billions of pounds)
There is a shortage of a
good when the quantity
demanded exceeds the
quantity supplied.
Shortages occur when
the price is below its
equilibrium level.
Shortage
75. SUMMARY
Equilibrium and Shifts of the Demand
Curve
Q
2
Q
1
P
2
P
1
D
2
Supply
D
1
E
2
E
1
Price of coffee
beans
Quantity of coffee beans
Price
rises
Quantity rises
An increase in
demand…
… leads to a
movement along the
supply curve due to a
higher equilibrium price
and higher equilibrium
quantity
76. SUMMARY
Equilibrium and Shifts of the Supply
Curve
P
2
P
1
Q
1
Q
2
Demand
E1
S
1
S
2
E
2
Price of
coffee beans
Quantity of coffee beans
Price
rises
Quantity falls
A decrease
in supply…
… leads to a movement
along the demand curve
due to a higher
equilibrium price and
lower equilibrium
quantity
77. SUMMARY
Technology Shifts of the Supply
CurvePrice
Quantity
S1
Demand
E1
E2
An increase in
supply …
P2
P1
Q
1
Q
2
… leads to a movement
along the demand curve to
a lower equilibrium price
and higher equilibrium
quantity.
Price
falls
Quantity increases
S2
Technological innovation: In the early
1970s, engineers learned how to put
microscopic electronic components
onto a silicon chip; progress in the
technique has allowed ever more
components to be put on each chip.
Editor's Notes
Figure Caption:
Figure 3-1: The Demand Schedule and the Demand Curve
The demand schedule for coffee beans yields the corresponding demand curve, which shows how much of a good or service consumers want to buy at any given price. The demand curve and the demand schedule reflect the law of demand: As price rises, the quantity demanded falls. Similarly, a decrease in price raises the quantity demanded. As a result, the demand curve is downward sloping.
Figure Caption:
Figure 3-1: The Demand Schedule and the Demand Curve
The demand schedule for coffee beans yields the corresponding demand curve, which shows how much of a good or service consumers want to buy at any given price. The demand curve and the demand schedule reflect the law of demand: As price rises, the quantity demanded falls. Similarly, a decrease in price raises the quantity demanded. As a result, the demand curve is downward sloping.
Figure Caption:
Figure 3-2: An increase in demand
An increase in the population and other factors generate an increase in demand—a rise in the quantity demanded at any given price. This is represented by the two demand schedules—one showing demand in 2002, before the rise in population, the other showing demand in 2006, after the rise in population—and their corresponding demand curves. The increase in demand shifts the demand curve to the right.
Figure Caption:
Figure 3-1: The Demand Schedule and the Demand Curve
The demand schedule for coffee beans yields the corresponding demand curve, which shows how much of a good or service consumers want to buy at any given price. The demand curve and the demand schedule reflect the law of demand: As price rises, the quantity demanded falls. Similarly, a decrease in price raises the quantity demanded. As a result, the demand curve is downward sloping.
Figure Caption:
Figure 3-3: Movement Along the Demand Curve Versus Shift of the Demand Curve
The rise in quantity demanded when going from point A to point B reflects a movement along the demand curve: it is the result of a
fall in the price of the good. The rise in quantity demanded when going from point A to point C reflects a shift of the demand curve: it is the result of a rise in the quantity demanded at any given price.
Figure Caption:
Figure 3-1: The Demand Schedule and the Demand Curve
The demand schedule for coffee beans yields the corresponding demand curve, which shows how much of a good or service consumers want to buy at any given price. The demand curve and the demand schedule reflect the law of demand: As price rises, the quantity demanded falls. Similarly, a decrease in price raises the quantity demanded. As a result, the demand curve is downward sloping.
Figure Caption:
Figure 3-5: Individual Demand Curves and the Market Demand Curve
Darla and Dino are the only two consumers of coffee beans in the market. Panel (a) shows Darla’s individual demand curve: the number of pounds of coffee beans she will buy per year at any given price. Panel (b) shows Dino’s individual demand curve. Given that Darla and Dino are the only two consumers, the market demand curve, which shows the quantity of coffee demanded by all consumers at any given price, is shown in panel (c). The market demand curve is the horizontal sum of the individual demand curves of all consumers. In this case, at any given price, the quantity demanded by the market is the sum of the quantities demanded by Darla and Dino.
Figure Caption:
Figure 3-16 (a) There is a simultaneous rightward shift of the demand curve and leftward shift of the supply curve. Here the increase in demand is relatively larger than the decrease in supply, so the equilibrium price and equilibrium quantity both rise.
Figure Caption:
Figure 3-16 (b) There is also a simultaneous rightward shift of the demand curve and leftward shift of the supply curve. Here the decrease in supply is relatively larger than the increase in demand, so the equilibrium price rises and the equilibrium quantity falls.
Figure Caption:
Figure 3-6: The Supply Schedule and the Supply Curve
The supply schedule for coffee beans is plotted to yield the corresponding supply curve, which shows how much of a good producers are willing to sell at any given price. Just as the quantity of coffee beans that consumers want to buy depends on the price they have to pay, the quantity that producers are willing to produce and sell—the quantity supplied—depends on the price they are offered.
Figure Caption:
Figure 3-6: The Supply Schedule and the Supply Curve
The supply curve and the supply schedule reflect the fact that supply curves are usually upward sloping: the quantity supplied rises when the price rises.
Figure Caption:
Figure 3-7: An increase in supply
The entry of Vietnam into the coffee bean business generated an increase in supply—a rise in the quantity supplied at any given price. This event is represented by the two supply schedules—one showing supply before Vietnam’s entry, the other showing supply after Vietnam came in—and their corresponding supply curves. The increase in supply shifts the supply curve to the right.
Figure Caption:
Figure 3-7: An increase in supply
The entry of Vietnam into the coffee bean business generated an increase in supply—a rise in the quantity supplied at any given price. This event is represented by the two supply schedules—one showing supply before Vietnam’s entry, the other showing supply after Vietnam came in—and their corresponding supply curves. The increase in supply shifts the supply curve to the right.
Figure Caption:
Figure 3-8: Movement Along the Supply Curve Versus Shift of the Supply Curve
The increase in quantity supplied when going from point A to point B reflects a movement along the supply curve: it is the result of a rise in the price of the good. The increase in quantity supplied when going from point A to point C reflects a shift of the supply curve: it is the result of an increase in the quantity supplied at any given price.
Figure Caption:
Figure 3-9: Shifts of the Supply Curve
Any event that increases supply shifts the supply curve to the right, reflecting a rise in the quantity supplied at any given price. Any event that decreases supply shifts the supply curve to the left, reflecting a fall in the quantity supplied at any given price.
Figure Caption:
Figure 3-10: Individual Supply Curves and the Market Supply Curve
Panel (a) shows the individual supply curve for Mr. Figueroa, SFigueroa, the quantity of coffee beans he will sell at any given price. Panel (b) shows the individual supply curve for Mr. Bien Pho, SBien Pho. The market supply curve, which shows the quantity of coffee beans supplied by all producers at any given price, is shown in panel (c). The market supply curve is the horizontal sum of the individual supply curves of all producers.
Figure Caption:
Figure 3-11: Market Equilibrium
Market equilibrium occurs at point E, where the supply curve and the demand curve intersect. In equilibrium, the quantity demanded is equal to the quantity supplied. In this market, the equilibrium price is $1 per pound and the equilibrium quantity is 10 billion pounds per year.
Figure Caption:
Figure 3-12: Price Above Its Equilibrium Level Creates a Surplus
The market price of $1.50 is above the equilibrium price of $1. This creates a surplus: at a price of $1.50, producers would like to sell 11.2 billion pounds but consumers want to buy only 8.1 billion pounds, so there is a surplus of 3.1 billion pounds. This surplus will push the price down until it reaches the equilibrium price of $1.
Figure Caption:
Figure 3-13: Price Below Its Equilibrium Level Creates a Shortage
The market price of $0.75 is below the equilibrium price of $1. This creates a shortage: consumers want to buy 11.5 billion pounds, but only 9.1 billion pounds are for sale, so there is a shortage of 2.4 billion pounds. This shortage will push the price up until it reaches the equilibrium price of $1.
Figure Caption:
Figure 3-14: Equilibrium and Shifts of the Demand Curve
The original equilibrium in the market for coffee is at E1, at the intersection of the supply curve and the original demand curve, D1. A rise in the price of tea, a substitute, shifts the demand curve rightward to D2. A shortage exists at the original price, P1, causing both the price and quantity supplied to rise, a movement along the supply curve. A new equilibrium is reached at E2, with a higher equilibrium price, P2, and a higher equilibrium quantity, Q2. When demand for a good or service increases, the equilibrium price and the equilibrium quantity of the good or service both rise.
Figure Caption:
Figure 3-15: Equilibrium and Shifts of the Demand Curve
The original equilibrium in the market for coffee beans is at E1. A drought causes a fall in the supply of coffee beans and shifts the supply curve leftward from S1 to S2. A new equilibrium is established at E2, with a higher equilibrium price, P2, and a lower equilibrium quantity, Q2.