中级微观经济管理学及财务知识分析(ppt 93页).ppt

Using Supply and Demand Chapter 5 Laugher Curve Q. How many conservative economists does it take to screw in a lightbulb? A. None. If the government would just leave it alone, it would screw itself in. The Power of Supply and Demand Changes in supply and demand will change equilibrium price and quantity. The Power of Supply and Demand A shift in demand that moves the demand curve to the right causes equilibrium price and quantity to rise. The Power of Supply and Demand A shift in supply that moves the supply curve to the left causes equilibrium price to rise and equilibrium quantity to fall. A Shift in Demand A Shift in Supply Six Real World Examples of Supply and Demand Supply and demand can shed light on a variety of real-world events: Florida freeze. Financial assets and the baby boomers. Ten percent excise tax. Rice in Indonesia. Farm laborers. Christmas toys. Florida Freeze The crop-damaging freeze shifted the supply curve to the left. At the original price, quantity demanded exceeded quantity supplied. Price rose until the quantity demanded equaled the quantity supplied. Florida Freeze Financial Assets and the Baby Boomers Demographic changes among baby boomers moved the demand curve for financial assets to the right. At the original price, quantity demanded exceeded quantity supplied. Price rose until the quantity demanded equaled the quantity supplied. Financial Assets and the Baby Boomers Financial Assets and the Baby Boomers The same phenomenon occurred in the surging demand for housing among this group during the 1980s. Excise Taxes Congress imposed a 10 percent surtax on luxury boats. Excise Taxes A 10 percent surtax on luxury boats levied on suppliers shifts the supply curve to the left. Excise Taxes Rice in Indonesia Drought, pestilence, and the financial crisis shifted the supply curve to the left. The steep demand curve means that the quantity demanded does not change much with changes in price. Rice in Indonesia Responding to high prices, the g