商务英语讲义chupdated.pptVIP

* Fiscal policy affects economic growth and demand for products and services 4–* How the Equilibrium Price is Determined by Supply and Demand Exhibit 4.6a 4–* How the Equilibrium Price is Determined by Supply and Demand Exhibit 4.6b Copyright ? 2004 South-Western. All rights reserved. 4–* Demand and Supply (cont’d) Supply schedule 供给曲线 Indicates the quantity of the product that would be supplied (produced) by manufacturers at each possible price. Quantity supplied (produced) is higher when the price is higher. —————— Quantity supplied （Qs: 有效供给） 4–* Interaction of Supply and Demand Interaction of demand and supply schedules determines the market price Surplus（过剩）: the quantity supplied by firms is more than the quantity demanded by customers. Shortage（短缺）: the quantity supplied by firms is less than the quantity demanded by customers. Equilibrium price（均衡价格）: occurs when quantities supplied and demanded are equal. 4–* Impact of Shifts in Demand Changing conditions can cause a demand schedule or supply schedule for a specific product to change. Changes the equilibrium price of a product. Increased product popularity (demand) results in a shortage of the product. The shortage is corrected when the price is increased to the level at which the quantity supplied equals the quantity demanded. 4–* How the Equilibrium Price is Affected by a Change in Demand Exhibit 4.7 4–* How the Equilibrium Price is Affected by a Change in Demand Exhibit 4.7 4–* Impact of Shifts in Supply Change in supply can impact the equilibrium price of the product. Technological improvements can lead to reduced production costs causing firms to produce a larger supply at any given price. The supply schedule changes and yields a surplus which can be sold only by lowering the price. The surplus is eliminated when the price decreases to a level at which the quantity supplied equals the quantity demanded. 4–* How the Equilibrium Price is Affected by a Change in Supply Exhibit 4.8 4–* How the E