















































Study with the several resources on Docsity
Earn points by helping other students or get them with a premium plan
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Community
Ask the community for help and clear up your study doubts
Discover the best universities in your country according to Docsity users
Free resources
Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors
Economics notes for mba first semester students studying in india. very usefull notes.
Typology: Lecture notes
1 / 55
This page cannot be seen from the preview
Don't miss anything!
PowerPoint Slides prepared by: Andreea CHIRITESCU Eastern Illinois University
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as 1
Markets and Competition, Part 1
Markets and Competition, Part 3
Markets for many agricultural commodities
Market for ice cream in a particular town
© 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as 4
Markets and Competition, Part 4
Markets and Competition, Part 6
Demand, Part 1
Catherine’s Demand Schedule and Demand Curve Price of Ice- Cream Cone Quantity of Cones Demanded $0.00 12 cones 0.50 10 1.00 8 1.50 6 2.00 4 2.50 2 3.00 0 The demand schedule is a table that shows the quantity demanded at each price. The demand curve, which graphs the demand schedule, illustrates how the quantity demanded of the good changes as its price varies. Because a lower price increases the quantity demanded, the demand curve slopes downward. © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as 10
Demand, Part 3
Market Demand as the Sum of Individual Demands © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as 13
Demand, Part 4
Any change that increases the quantity demanded at every price
Demand, Part 5
Demand, Part 6
Other things constant
Demand, Part 8
Variables That Influence Buyers Variable A change in this variable… Price of the good itself Represents a movement along the demand curve Income Shifts the demand curve Prices of related goods Shifts the demand curve Tastes Shifts the demand curve Expectations Shifts the demand curve Number of buyers Shifts the demand curve This table lists the variables that affect how much consumers choose to buy of any good. Notice the special role that the price of the good plays: A change in the good’s price represents a movement along the demand curve, whereas a change in one of the other variables shifts the demand curve. © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as 20