market_model_supply_demand

market_model_supply_demand - Microeconomics I Kliknij, aby...

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5/30/11 Kliknij, aby edytować styl wzorca podtytułu Microeconomics I Simple Market Model. Supply and Demand
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5/30/11 The Supply and Demand Model S&D model describes how consumers and suppliers interact in a market to determine quantity of a good sold and its price Microeconomics builds up demand from individual consumption decisions and builds up supply from firms supply decisions S&D is the most widely used
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5/30/11 Demand Demand is the quantity that consumers together are willing to buy at each price Other determinants of demand are also important
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5/30/11 Other Determinants of Demand Tastes of consumers Information Prices of other goods (substitutes and compliments) Income level Government rules and regulations (e.g. use restrictions) Other factors (e.g. season, weather)
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5/30/11 The Demand Curve Quantity demanded is the amount of a good that consumers are willing to buy at a given price, holding constant the other factors that influence purchases Demand curve graphically shows the quantity demanded at each possible price (holding other factors constant!)
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5/30/11 The Demand Curve
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5/30/11 Law of Demand Consumers demand more of a good the lower its price, holding constant tastes, the prices of other goods, and other factors that influence consumption Demand curves slope downward Changes in the quantity demanded in response to changes in price are movements along the demand curve
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market_model_supply_demand - Microeconomics I Kliknij, aby...

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