中级微观Ch09学习课件.pptVIP

Chapter 9 Buying and Selling Buying and Selling Trade involves exchange -- when something is bought something else must be sold. What will be bought? What will be sold? Who will be a buyer? Who will be a seller? Buying and Selling And how are incomes generated? How does the value of income depend upon commodity prices? How can we put all this together to explain better how price changes affect demands? Net and Gross DemandsEndowments The list of resource units with which a consumer starts is his endowment. A consumer’s endowment will be denoted by the vector (omega). Net and Gross Dem