Enviar búsqueda
Cargar
Market supply demand and market equilibrium
•
Descargar como PPT, PDF
•
3 recomendaciones
•
2,287 vistas
V
VJTI Production
Seguir
Denunciar
Compartir
Denunciar
Compartir
1 de 38
Descargar ahora
Recomendados
Virtual organization
Virtual organization
Ameya Kulkarni
E tailing
E tailing
Sandeep Singh Saini
E-Business Applications
E-Business Applications
Dattatreya Reddy Peram
INGAVAR KAMPRAD
INGAVAR KAMPRAD
Kapil Kumar
Schematic Diagram for Nokia Mobile Phones
Schematic Diagram for Nokia Mobile Phones
Muhammad asif azeemi
ELECTRONIC DATA INTERCHANGE
ELECTRONIC DATA INTERCHANGE
alraee
E-commerce, digital markets, and digital goods
E-commerce, digital markets, and digital goods
Jose G. Lepervanche, PhD
Philippines E-Commerce Roadmap 2016 to 2020 (FINAL VERSION)
Philippines E-Commerce Roadmap 2016 to 2020 (FINAL VERSION)
Janette Toral
Recomendados
Virtual organization
Virtual organization
Ameya Kulkarni
E tailing
E tailing
Sandeep Singh Saini
E-Business Applications
E-Business Applications
Dattatreya Reddy Peram
INGAVAR KAMPRAD
INGAVAR KAMPRAD
Kapil Kumar
Schematic Diagram for Nokia Mobile Phones
Schematic Diagram for Nokia Mobile Phones
Muhammad asif azeemi
ELECTRONIC DATA INTERCHANGE
ELECTRONIC DATA INTERCHANGE
alraee
E-commerce, digital markets, and digital goods
E-commerce, digital markets, and digital goods
Jose G. Lepervanche, PhD
Philippines E-Commerce Roadmap 2016 to 2020 (FINAL VERSION)
Philippines E-Commerce Roadmap 2016 to 2020 (FINAL VERSION)
Janette Toral
Introduction-to-business-taxation.pptx
Introduction-to-business-taxation.pptx
KarylleEntino
E business
E business
Santosh Ralabandi
Ingvar kamprad
Ingvar kamprad
Rohit Kumar
Technopreneurship
Technopreneurship
Jefferson Livara
Traditional marketing
Traditional marketing
Årpįthä Gøwdå
Do's and Don'ts of Community Management
Do's and Don'ts of Community Management
Marcus Ho
The EC Activities-Mechanisms connection
The EC Activities-Mechanisms connection
Gonzalo Moreno, PhD
Case Study IKEA
Case Study IKEA
Anugrah Nimavat
Digital business Ecosystem
Digital business Ecosystem
Vipul Mittal
01 introduction to e-marketing
01 introduction to e-marketing
rizwan1001
Online security and payment system
Online security and payment system
Gc university faisalabad
INTRODUCTION TO ENTREPRENEURSHIP DEVELOPMENT WITH ITS BASIC CONCEPTS
INTRODUCTION TO ENTREPRENEURSHIP DEVELOPMENT WITH ITS BASIC CONCEPTS
MAHUA MUKHERJEE
Managerial Accounting Garrison Noreen Brewer Chapter 01
Managerial Accounting Garrison Noreen Brewer Chapter 01
Asif Hasan
What is a Business model?
What is a Business model?
Vivek Deshmukh
E retailing
E retailing
Manish Manghnani
E finance ppt. for bfi subject and global finance with e banking.
E finance ppt. for bfi subject and global finance with e banking.
Ramon Lapid
6. electronic payment systems
6. electronic payment systems
Pratap Tirkey
electronic commerce act 8792 (2000)
electronic commerce act 8792 (2000)
Alison - Free Online Learning
IKEA International
IKEA International
McKensie Attaway
IKEA " Case Study " Dr.Ahmad Adel
IKEA " Case Study " Dr.Ahmad Adel
Ocean International Trade
1. lect 1
1. lect 1
VJTI Production
8. leadership
8. leadership
VJTI Production
Más contenido relacionado
La actualidad más candente
Introduction-to-business-taxation.pptx
Introduction-to-business-taxation.pptx
KarylleEntino
E business
E business
Santosh Ralabandi
Ingvar kamprad
Ingvar kamprad
Rohit Kumar
Technopreneurship
Technopreneurship
Jefferson Livara
Traditional marketing
Traditional marketing
Årpįthä Gøwdå
Do's and Don'ts of Community Management
Do's and Don'ts of Community Management
Marcus Ho
The EC Activities-Mechanisms connection
The EC Activities-Mechanisms connection
Gonzalo Moreno, PhD
Case Study IKEA
Case Study IKEA
Anugrah Nimavat
Digital business Ecosystem
Digital business Ecosystem
Vipul Mittal
01 introduction to e-marketing
01 introduction to e-marketing
rizwan1001
Online security and payment system
Online security and payment system
Gc university faisalabad
INTRODUCTION TO ENTREPRENEURSHIP DEVELOPMENT WITH ITS BASIC CONCEPTS
INTRODUCTION TO ENTREPRENEURSHIP DEVELOPMENT WITH ITS BASIC CONCEPTS
MAHUA MUKHERJEE
Managerial Accounting Garrison Noreen Brewer Chapter 01
Managerial Accounting Garrison Noreen Brewer Chapter 01
Asif Hasan
What is a Business model?
What is a Business model?
Vivek Deshmukh
E retailing
E retailing
Manish Manghnani
E finance ppt. for bfi subject and global finance with e banking.
E finance ppt. for bfi subject and global finance with e banking.
Ramon Lapid
6. electronic payment systems
6. electronic payment systems
Pratap Tirkey
electronic commerce act 8792 (2000)
electronic commerce act 8792 (2000)
Alison - Free Online Learning
IKEA International
IKEA International
McKensie Attaway
IKEA " Case Study " Dr.Ahmad Adel
IKEA " Case Study " Dr.Ahmad Adel
Ocean International Trade
La actualidad más candente
(20)
Introduction-to-business-taxation.pptx
Introduction-to-business-taxation.pptx
E business
E business
Ingvar kamprad
Ingvar kamprad
Technopreneurship
Technopreneurship
Traditional marketing
Traditional marketing
Do's and Don'ts of Community Management
Do's and Don'ts of Community Management
The EC Activities-Mechanisms connection
The EC Activities-Mechanisms connection
Case Study IKEA
Case Study IKEA
Digital business Ecosystem
Digital business Ecosystem
01 introduction to e-marketing
01 introduction to e-marketing
Online security and payment system
Online security and payment system
INTRODUCTION TO ENTREPRENEURSHIP DEVELOPMENT WITH ITS BASIC CONCEPTS
INTRODUCTION TO ENTREPRENEURSHIP DEVELOPMENT WITH ITS BASIC CONCEPTS
Managerial Accounting Garrison Noreen Brewer Chapter 01
Managerial Accounting Garrison Noreen Brewer Chapter 01
What is a Business model?
What is a Business model?
E retailing
E retailing
E finance ppt. for bfi subject and global finance with e banking.
E finance ppt. for bfi subject and global finance with e banking.
6. electronic payment systems
6. electronic payment systems
electronic commerce act 8792 (2000)
electronic commerce act 8792 (2000)
IKEA International
IKEA International
IKEA " Case Study " Dr.Ahmad Adel
IKEA " Case Study " Dr.Ahmad Adel
Destacado
1. lect 1
1. lect 1
VJTI Production
8. leadership
8. leadership
VJTI Production
Job design
Job design
VJTI Production
Compensation
Compensation
VJTI Production
Organizational Behavior - Session 1
Organizational Behavior - Session 1
lelinh.tlu
Behavioral management approach
Behavioral management approach
Lee Morley
Behavioural Approach in Management
Behavioural Approach in Management
simplyidontcare
Behavioral approach
Behavioral approach
Khushboo Chauhan
Behavioural theory
Behavioural theory
Ulsah T N
Performance Management
Performance Management
Daniel Edward Ricio
Performance management
Performance management
Notre Dame De Chartres Hospital
Destacado
(11)
1. lect 1
1. lect 1
8. leadership
8. leadership
Job design
Job design
Compensation
Compensation
Organizational Behavior - Session 1
Organizational Behavior - Session 1
Behavioral management approach
Behavioral management approach
Behavioural Approach in Management
Behavioural Approach in Management
Behavioral approach
Behavioral approach
Behavioural theory
Behavioural theory
Performance Management
Performance Management
Performance management
Performance management
Similar a Market supply demand and market equilibrium
Ch03
Ch03
Malcolm Harrison
501102 demand.ppt
501102 demand.ppt
Miraa Sabaya
Demand_Supply_Equillibrium.ppt
Demand_Supply_Equillibrium.ppt
JasminJames12
Ch03 demand supply.ppt
Ch03 demand supply.ppt
SuSandi17
501102_demand.ppt.ppt
501102_demand.ppt.ppt
depakmechanical
501102_demand.ppt.ppt
501102_demand.ppt.ppt
AJAYSINGODIYA
Demand curves of house holds - Economics.pptx
Demand curves of house holds - Economics.pptx
VenkatPrasatS
topic 4.pptx
topic 4.pptx
TongierlynCorda1
demand and Suppy,Market equilibrium
demand and Suppy,Market equilibrium
Faith Martin
Ch03
Ch03
patriciatamio
Ch05
Ch05
Malcolm Harrison
ch03-110629184923-phpapp02 (1).ppt
ch03-110629184923-phpapp02 (1).ppt
JoshuaEspinosaBaluya
Ch03:demand, supply, and market equilibrium
Ch03:demand, supply, and market equilibrium
Sonali Bank Limited
Demand and supply analysis.ppt
Demand and supply analysis.ppt
ObianujuMirriam
Demand, Supply & Market Equilibrium
Demand, Supply & Market Equilibrium
Mahfuzur Rahman
Ch05
Ch05
patriciatamio
Ch05
Ch05
patriciatamio
Household Behavior and Consumer Choice
Household Behavior and Consumer Choice
Noel Buensuceso
Demand and supply .ppt
Demand and supply .ppt
jaganshettar
Ch06
Ch06
Malcolm Harrison
Similar a Market supply demand and market equilibrium
(20)
Ch03
Ch03
501102 demand.ppt
501102 demand.ppt
Demand_Supply_Equillibrium.ppt
Demand_Supply_Equillibrium.ppt
Ch03 demand supply.ppt
Ch03 demand supply.ppt
501102_demand.ppt.ppt
501102_demand.ppt.ppt
501102_demand.ppt.ppt
501102_demand.ppt.ppt
Demand curves of house holds - Economics.pptx
Demand curves of house holds - Economics.pptx
topic 4.pptx
topic 4.pptx
demand and Suppy,Market equilibrium
demand and Suppy,Market equilibrium
Ch03
Ch03
Ch05
Ch05
ch03-110629184923-phpapp02 (1).ppt
ch03-110629184923-phpapp02 (1).ppt
Ch03:demand, supply, and market equilibrium
Ch03:demand, supply, and market equilibrium
Demand and supply analysis.ppt
Demand and supply analysis.ppt
Demand, Supply & Market Equilibrium
Demand, Supply & Market Equilibrium
Ch05
Ch05
Ch05
Ch05
Household Behavior and Consumer Choice
Household Behavior and Consumer Choice
Demand and supply .ppt
Demand and supply .ppt
Ch06
Ch06
Más de VJTI Production
Human nature and behaviour
Human nature and behaviour
VJTI Production
Group behaviour
Group behaviour
VJTI Production
Motivation
Motivation
VJTI Production
Optimization assignment 2
Optimization assignment 2
VJTI Production
Optimization assignment 3
Optimization assignment 3
VJTI Production
Optimization assignment 1
Optimization assignment 1
VJTI Production
Working capital
Working capital
VJTI Production
Capital budgeting techniques
Capital budgeting techniques
VJTI Production
7. communication
7. communication
VJTI Production
6. planning
6. planning
VJTI Production
5. decision making
5. decision making
VJTI Production
Final accounting assignment problems
Final accounting assignment problems
VJTI Production
Final account trading account pl acc balance sheet
Final account trading account pl acc balance sheet
VJTI Production
4. organizational structure
4. organizational structure
VJTI Production
3. management contingency
3. management contingency
VJTI Production
2. scientific management
2. scientific management
VJTI Production
Gp 2012 part 1
Gp 2012 part 1
VJTI Production
Gp 2012 part 2
Gp 2012 part 2
VJTI Production
Press problems
Press problems
VJTI Production
Metrology assignment
Metrology assignment
VJTI Production
Más de VJTI Production
(20)
Human nature and behaviour
Human nature and behaviour
Group behaviour
Group behaviour
Motivation
Motivation
Optimization assignment 2
Optimization assignment 2
Optimization assignment 3
Optimization assignment 3
Optimization assignment 1
Optimization assignment 1
Working capital
Working capital
Capital budgeting techniques
Capital budgeting techniques
7. communication
7. communication
6. planning
6. planning
5. decision making
5. decision making
Final accounting assignment problems
Final accounting assignment problems
Final account trading account pl acc balance sheet
Final account trading account pl acc balance sheet
4. organizational structure
4. organizational structure
3. management contingency
3. management contingency
2. scientific management
2. scientific management
Gp 2012 part 1
Gp 2012 part 1
Gp 2012 part 2
Gp 2012 part 2
Press problems
Press problems
Metrology assignment
Metrology assignment
Market supply demand and market equilibrium
1.
RET PA HC
3 Demand, Supply, and Market Equilibrium Prepared by: Fernando Quijano and Yvonn Quijano © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
2.
The Basic Decision-Making
Units • A firm is an organization that transforms resources (inputs) into products (outputs). Firms are the primary producing units in a market economy. • An entrepreneur is a person who organizes, manages, and assumes the risks of a firm, taking a new idea or a new product and turning it into a successful business. • Households are the consuming units in an economy. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
3.
The Circular Flow
of Economic Activity • The circular flow of economic activity shows the connections between firms and households in input and output markets. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
4.
Input Markets and
Output Markets • Output, or product, markets are the markets in which goods and services are exchanged. • Input markets are the markets in which resources—labor, capital, • Payments flow in the opposite and land—used to direction as the physical flow of produce products, are resources, goods, and services (counterclockwise). exchanged. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
5.
Input Markets
Input markets include: • The labor market, in which households supply work for wages to firms that demand labor. • The capital market, in which households supply their savings, for interest or for claims to future profits, to firms that demand funds to buy capital goods. • The land market, in which households supply land or other real property in exchange for rent. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
6.
Determinants of Household
Demand A household’s decision about the quantity of a particular output to demand depends on: • The price of the product in question. • The income available to the household. • The household’s amount of accumulated wealth. • The prices of related products available to the household. • The household’s tastes and preferences. • The household’s expectations about future income, wealth, and prices. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
7.
Quantity Demanded
• Quantity demanded is the amount (number of units) of a product that a household would buy in a given time period if it could buy all it wanted at the current market price. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
8.
Demand in Output
Markets ANNA'S DEMAND • A demand schedule SCHEDULE FOR is a table showing TELEPHONE CALLS how much of a given PRICE QUANTITY DEMANDED product a household (PER (CALLS PER would be willing to $ CALL) 0 MONTH) 30 buy at different prices. 0.50 25 3.50 7 • Demand curves are 7.00 3 10.00 1 usually derived from 15.00 0 demand schedules. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
9.
The Demand Curve
ANNA'S DEMAND SCHEDULE FOR • The demand curve is TELEPHONE CALLS a graph illustrating PRICE QUANTITY DEMANDED how much of a given (PER CALL) (CALLS PER MONTH) product a household $ 0 0.50 30 25 would be willing to 3.50 7 buy at different prices. 7.00 3 10.00 1 15.00 0 © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
10.
The Law of
Demand • The law of demand states that there is a negative, or inverse, relationship between price and the quantity of a good demanded and its price. • This means that demand curves slope downward. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
11.
Other Properties of
Demand Curves • Demand curves intersect the quantity (X)-axis, as a result of time limitations and diminishing marginal utility. • Demand curves intersect the (Y)-axis, as a result of limited incomes and wealth. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
12.
Income and Wealth
• Income is the sum of all households wages, salaries, profits, interest payments, rents, and other forms of earnings in a given period of time. It is a flow measure. • Wealth, or net worth, is the total value of what a household owns minus what it owes. It is a stock measure. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
13.
Related Goods and
Services • Normal Goods are goods for which demand goes up when income is higher and for which demand goes down when income is lower. • Inferior Goods are goods for which demand falls when income rises. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
14.
Related Goods and
Services • Substitutes are goods that can serve as replacements for one another; when the price of one increases, demand for the other goes up. Perfect substitutes are identical products. • Complements are goods that “go together”; a decrease in the price of one results in an increase in demand for the other, and vice versa. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
15.
Shift of Demand
Versus Movement Along a Demand Curve • A change in demand is not the same as a change in quantity demanded. • In this example, a higher price causes lower quantity demanded. • Changes in determinants of demand, other than price, cause a change in demand, or a shift of the entire demand curve, from DA to DB. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
16.
A Change in
Demand Versus a Change in Quantity Demanded • When demand shifts to the right, demand increases. This causes quantity demanded to be greater than it was prior to the shift, for each and every price level. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
17.
A Change in
Demand Versus a Change in Quantity Demanded To summarize: Change in price of a good or service leads to Change in quantity demanded (Movement along the curve). Change in income, preferences, or prices of other goods or services leads to Change in demand (Shift of curve). © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
18.
The Impact of
a Change in Income • Higher income • Higher income decreases the demand increases the demand for an inferior good for a normal good © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
19.
The Impact of
a Change in the Price of Related Goods • Demand for complement good (ketchup) shifts left • Demand for substitute good (chicken) shifts right • Price of hamburger rises • Quantity of hamburger demanded falls © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
20.
From Household to
Market Demand • Demand for a good or service can be defined for an individual household, or for a group of households that make up a market. • Market demand is the sum of all the quantities of a good or service demanded per period by all the households buying in the market for that good or service. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
21.
From Household Demand
to Market Demand • Assuming there are only two households in the market, market demand is derived as follows: © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
22.
Supply in Output
Markets CLARENCE BROWN'S • A supply schedule is a table SUPPLY SCHEDULE showing how much of a product FOR SOYBEANS firms will supply at different QUANTITY SUPPLIED prices. PRICE (THOUSANDS (PER OF BUSHELS • Quantity supplied represents the BUSHEL) PER YEAR) $ 2 0 number of units of a product that 1.75 2.25 10 20 a firm would be willing and able to 3.00 30 offer for sale at a particular price 4.00 5.00 45 45 during a given time period. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
23.
The Supply Curve
and the Supply Schedule • A supply curve is a graph illustrating how much of a product a firm will supply at different prices. CLARENCE BROWN'S 6 Price of soybeans per bushel ($) SUPPLY SCHEDULE FOR SOYBEANS 5 QUANTITY SUPPLIED 4 PRICE (THOUSANDS (PER OF BUSHELS 3 BUSHEL) PER YEAR) 2 $ 2 0 1.75 10 1 2.25 20 3.00 30 0 4.00 45 5.00 45 0 10 20 30 40 50 Thousands of bushels of soybeans produced per year © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
24.
The Law of
Supply 6 • The law of supply Price of soybeans per bushel ($) 5 states that there is a 4 positive relationship 3 between price and 2 1 quantity of a good 0 supplied. 0 10 20 30 40 50 Thousands of bushels of soybeans • This means that produced per year supply curves typically have a positive slope. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
25.
Determinants of Supply
• The price of the good or service. • The cost of producing the good, which in turn depends on: • The price of required inputs (labor, capital, and land), • The technologies that can be used to produce the product, • The prices of related products. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
26.
A Change in
Supply Versus a Change in Quantity Supplied • A change in supply is not the same as a change in quantity supplied. • In this example, a higher price causes higher quantity supplied, and a move along the demand curve. • In this example, changes in determinants of supply, other than price, cause an increase in supply, or a shift of the entire supply curve, from SA to SB. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
27.
A Change in
Supply Versus a Change in Quantity Supplied • When supply shifts to the right, supply increases. This causes quantity supplied to be greater than it was prior to the shift, for each and every price level. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
28.
A Change in
Supply Versus a Change in Quantity Supplied To summarize: Change in price of a good or service leads to Change in quantity supplied (Movement along the curve). Change in costs, input prices, technology, or prices of related goods and services leads to Change in supply (Shift of curve). © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
29.
From Individual Supply
to Market Supply • The supply of a good or service can be defined for an individual firm, or for a group of firms that make up a market or an industry. • Market supply is the sum of all the quantities of a good or service supplied per period by all the firms selling in the market for that good or service. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
30.
Market Supply
• As with market demand, market supply is the horizontal summation of individual firms’ supply curves. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
31.
Market Equilibrium
• The operation of the market depends on the interaction between buyers and sellers. • An equilibrium is the condition that exists when quantity supplied and quantity demanded are equal. • At equilibrium, there is no tendency for the market price to change. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
32.
Market Equilibrium
• Only in equilibrium is quantity supplied equal to quantity demanded. • At any price level other than P0, the wishes of buyers and sellers do not coincide. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
33.
Market Disequilibria
• Excess demand, or shortage, is the condition that exists when quantity demanded exceeds quantity supplied at the current price. • When quantity demanded exceeds quantity supplied, price tends to rise until equilibrium is restored. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
34.
Market Disequilibria
• Excess supply, or surplus, is the condition that exists when quantity supplied exceeds quantity demanded at the current price. • When quantity supplied exceeds quantity demanded, price tends to fall until equilibrium is restored. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
35.
Increases in Demand
and Supply • Higher demand leads to • Higher supply leads to higher equilibrium price and lower equilibrium price and higher equilibrium quantity. higher equilibrium quantity. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
36.
Decreases in Demand
and Supply • Lower demand leads to • Lower supply leads to lower price and lower higher price and lower quantity exchanged. quantity exchanged. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
37.
Relative Magnitudes of
Change • The relative magnitudes of change in supply and demand determine the outcome of market equilibrium. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
38.
Relative Magnitudes of
Change • When supply and demand both increase, quantity will increase, but price may go up or down. © 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair
Descargar ahora