萨缪尔森微观第二章.pptx

Markets and Government in a Modern Economy;Every individual endeavors to employ his capital so that its produce may be of greatest value. He generally neither intends to promote the public interest, nor knows how much he is promoting it. He intends only his own security, only his own gain. And he is in this led by an invisible hand to promote an end which was no part of his intention. By pursuing his own interest he frequently promotes that of society more effectually than when he really intends to promote it. ----Adam Smith The Wealth of Nations (1776);Purchase train ticket on the internet: Tangible capital: computer; intellectual property; fiber-optic transmission lines; the train reservation system and pricing model. The train companies do all this to make profits Government role: regulate train safety; owns many train stations, manage the traffic-control system, produce the public good of weather data and forecasting; provide information on train delays.;Market;A market is a mechanism through which buyers and sellers interact to determine prices and exchange goods and services. 市场是买者和卖者相互作用并共同决定商品和劳务的价格以及交易数量的机制。;Price: In a market system, everything has a price, which is the value of the good in terms of money. Prices represent the terms on which different items can be exchange. a bicycle--$500 a pair of shoes--$50 Prices server as signals to producers and consumers. Prices coordinate the decisions of producers and consumers in a market. Higher prices tend to reduce consumer purchases and encourage production. Lower prices encourage consumption and discourage production. Prices are the balance wheel of the market mechanism.;Market equilibrium: A market equilibrium represents a balance among all the different buyers and sellers. Depending upon the price, households and firms all want to buy or sell different quantities. The market finds the equilibrium price that simultaneously meet