101_05 - Demand, Supply, Equilibrium (Ch. 4) * 1) Demand...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
1 Demand, Supply, Equilibrium (Ch. 4) ***************************** 1) Demand -Definition Examples (Table, Graph, Equation) -Change in Qd vs. Change in Demand -Factors Shifting (Changing) Demand 2) Supply -Definition Examples (Table, Graph, Equation) -Change in Qs vs. Change in Supply -Factors Shifting (Changing) Supply 3) Equilibrium -Examples -Change in Equilibrium
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 Simple Demand & Supply Analysis: -- Provides a framework for basic analysis, and help avoid mistakes of naïve (common sense) analysis. An Example (your demand for ice cream) Demand: A schedule that shows the relationship between price (P) and the amount of a product that consumers are willing to buy at each price (Quantity demanded or Qd). This schedule can be a table, an equation, or a graph. Market and time period need to be specified
Background image of page 2
3 Examples Demand Table: For example, weekly ice cream demand by an individual. Price per Quantity (containers Container demanded weekly) --------------------------------------------------- $4 2 $3
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 10

101_05 - Demand, Supply, Equilibrium (Ch. 4) * 1) Demand...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online