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Unformatted text preview: lators
are available on the Web.
For example, with a Spanish-English
translator, you simply key in a statement in English, then click “Free
Translation,” and the statement is
translated into Spanish. “Are you
having a good morning?” becomes
“¿Tiene usted un buenos días?”
Suppose an English-toEconomics translator were available.
How would various statements (that
you might hear every day) be translated? Here are a few examples. Do
you think it might be in your personal
interest to learn to speak Economics? English
She is very popular in school.
The demand to be around her is
high relative to the demand to be
around others. English
We have to do more in Mr.
Johnson’s class to get an A than we
have to do in Mr. Meyer’s class to
get an A.
The price to get an A in Mr.
Johnson’s class is higher than the
price to get an A in Mr. Meyer’s
I can’t get into that class, because it
has no open spots.
The quantity demanded of seats
in that class is greater than the
quantity supplied, resulting in a
shortage of seats in that class.
They did away with fast food at the
The supply of fast food at the
school dropped to zero. market moves to point 2, where it is in equilibrium again. The new equilibrium price is
$200. A decrease in the demand for a good
will decrease price, all other things remaining the same.
If you go to the Boston Red
Sox Web site you will be able to buy tickets
(that some ticket holders want to sell) for
various games played at Fenway Park. On
the day we checked, the price of a seat in
Jake can only come to the party if
he brings some food; of course,
Stephanie doesn’t have to bring
The price is higher for Jake to
attend the party than for Stephanie.
Do you want to dance?
I have a demand to be around you.
Do you have a demand to be
She broke up with me.
Her demand for me fell to zero.
ABOUT IT One purpose of these
examples is to sho...
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This document was uploaded on 01/16/2014.
- Winter '14