AP宏微观经济学 第一单元 基本经济概念 知识点总结课件 AP Economics Unit 1 Summary.pptVIP

Number of consumers, increase. Income, decrease. Substitutes, decrease. Price doesn’t shift curve, no change. Tastes and preferences, decrease. Expectations, increase. Complements, decrease. Price doesn’t shift curve, no change. * Decrease in availability of resources, decrease. Price doesn’t shift curve, no shift. Government action, decrease. Opportunity cost of alternative production, decrease. Technology, increase. Price of resources, decrease. * 1. Demand Increases 2. Supply Increases 3. No Shift. Shortage 4. Supply Decreases 5. Demand Decreases Answers: D C * 1.H 2.TLI 3.HIJKLMNRS 4.T 5.Q5-Q1 6. CS gets smaller and PS gets bigger Supply and Demand Analysis Easy as 1, 2, 3 Before the change: Draw supply and demand Label original equilibrium price and quantity The change: Did it affect supply or demand first? Which determinant caused the shift? Draw increase or decrease After change: Label new equilibrium? What happens to Price? (increase or decrease) What happens to Quantity? (increase or decrease) Let’s Practice! * SD Analysis Practice Analyze Hamburgers Price of sushi (a substitute) increases New grilling technology cuts production time in half Price of burgers falls from $3 to $1. Price for ground beef triples Human fingers found in multiple burger restaurants. Before Change (Draw equilibrium) The Change (S or D, Identify Shifter) After Change (Price and Quantity After) * Double Shifts Suppose the demand for sports cars fell at the same time as production technology improved. Use SD Analysis to show what will happen to PRICE and QUANTITY. If TWO curves shift at the same time, EITHER price or quantity will be indeterminate. * Consumer Surplus is the difference between what you are willing to pay and what you actually pay. CS = Buyer’s Maximum – Price Producer’s Surplus is the difference between the price the seller received and how much they were willing to sell it for. PS = Price – Seller’s Minimum Voluntary Exchange Terms * S P Q D Con