英语 经济学悖论.pptVIP

BREAD PPT DESIGN Paradoxes in economics BREAD PPT DESIGN Faculty of Economics and Management When a government overvalues one type of money and undervalues another 在铸币时代，有两种货币：贵金属含量高的足值货币（也称“良币”），与低于法定重量或者成色低的铸币（也称“劣币”）。 * Most people may think that Good money will be more popular, and bad money will be slowly eliminated. 大多数人会认为，肯定是良币更加受欢迎，劣币将被慢慢淘汰。 * However, the undervalued money will leave the country or disappear from circulation into hoards, while the overvalued money will flood into circulation. 事实情况是：那个时代的人们将良币收藏起来，或者将其熔化、输出而退出流通领域。而劣币反而充斥市场。? * Greshams law It is commonly stated as: Bad money drives out good. * Application The Market for Lemons * The Market for Lemons In the market for used cars, sellers have a strong financial incentive to pass all used cars off as good cars, especially lemons. This makes it difficult to buy a good car at a fair price, as the buyer risks overpaying for a lemon. * The Market for Lemons The result is that buyers will only pay the fair price of a lemon, so at least they reduce the risk of overpaying. High-quality cars tend to be pushed out of the market, because there is no good way to establish that they really are worth more. 劣车驱逐好车 盗版驱逐正版。。。 * Which one do you think is more necessary? Which one do you think is more necessary? * Water or Diamonds And what about the price of them? * Apparently, water is much cheaper than diamonds. the law of diminishing marginal utility It is not the total usefulness of diamonds or water that matters, but the usefulness of each unit of water or diamonds. Its price is determined by its marginal utility. * Scarcity Water is in such large supply in the world. * Diamonds ? A thing is valued if it is rare. The marginal utility of water is low.  Those who want diamonds are willing to pay a higher price for one diamond than for one glass of water, and sellers of diamonds ask a price for one diamond that is higher than for one glass of water. * Paradox of valu