微观经济学课件英文版Enmicro02.pptVIP

Basic Elements of Supply and Demand Basic Elements of Demand Basic Elements of Supply Equilibrium of Demand and Supply Elasticity of Demand and Supply Basic Elements of Demand Demand, demand schedule and demand curve Demand Other things being constant, the quantity that consumers can and are willing to buy depends on its price . Two conditions Purchase wants Purchase capacity Basic Elements of Demand Demand Schedule The definite relationship between market price of a good and the quantity demanded of that good, other things held constant, is called the demand schedule. Basic Elements of Demand Demand Curve The relationship between price and quantity bought is called demand curve. The curve slopes downward, going from northwest to southeast. Basic Elements of Demand Behind the demand curve and Demand function Factors affecting the demand curve price of the good average levels of income individual and social tastes the prices of related goods individual expectation special influences Basic Elements of Demand Behind the demand curve and Demand function Demand Function The relationship between demand and the factors affecting demand is called demand function. Basic Elements of Demand Demand Function Other things being constant, the relationship between price and quantity demanded a simple function Basic Elements of Demand Law of demand Quantity and price are inversely related The demand curve slopes downward, going from northwest to southeast Basic Elements of Demand Individual demand and market demand Basic Elements of Demand A change in demand and a change in the quantity demanded Basic Elements of Supply Demand schedule and supply curve Supply Other things being constant, the quantity that the suppliers can and want to supply depends on the price of the good. Two conditions Supply wants Supply capacity Basic Elements of Supply Supply schedule and supply curve Supply s