Supply Changes in the QUANTITY Supplied vs. Changes in Supply.

Slides:

Advertisements

Similar presentations

Supply and Demand Shocks Unit Four, Lesson Two Economics Economics.

Advertisements

Module Supply and Demand: Introduction and Demand

2.1 Markets Supply Pg 47 Oliver Chang. Determinant of Supply Taxes: increases production costs and reduces supply Subsidies: lowers producers’ costs and.

 influenced by prices, income, and tastes Individual Demand Movies Other Total Concerts $40) $240 $8) 160 1,600 $2,000 A limited income. The.

AP Economics Mr. Bernstein Module 6: Supply and Demand – Supply and Equilibrium October 7, 2014.

Markets and Supply Overheads. Competitive agents A buyer or seller (agent) is said to be competitive if the agent assumes or believes that the market.

The Supply Curve. Supply Schedule (Table) ▫It works the same way the demand schedule shown ▫It says the quantity sellers are willing to sell at different.

Chapter 5: Demand and Supply Supply and Shifters of Supply.

Linear supply Functions (HL) Explain and plot a linear supply function Use a linear supply function and graph to analyse changes in supply.

ECONOMICS 211 CLICKER QUESTIONS Chapter 4 – Question Set #3.

Supply and Demand. Economic definitions for DEMAND Demand: the total amount consumers are willing and able to buy at all prices at a specific point in.

Economics 100 Lecture 5 Demand and Supply (I). Demand and Supply  Opportunity Cost and Price  Demand.

Chapter 4: The Market Forces of Supply and Demand 1.

SUPPLY and DEMAND The basic model of market economics.

SUPPLY AND DEMAND CHART Supply Curve: Slopes upward to the right Why? Producers will produce more if the price is high- it will increase revenue Called.

Changes in Equilibrium Lesson 2.7. Changes in Supply and Demand Law of Demand and Law of Supply describe what happens when prices change When price changes,

Chapter 3 Part II Demand and Supply Hossain: MSMC.

Law of Supply How Much Do We Make?. Quantity Supplied S.

Jump to first page Impact on Equilibrium Price and Quantity of Demand Curve Shifters S E1E1 P E1 Q E1 1. Draw equilibrium condition 3. Determine new equilibrium.

Module Supply and Demand: Introduction and Demand KRUGMAN'S MACROECONOMICS for AP* 5 Margaret Ray and David Anderson.

A market is an institution in which buyers and sellers exchange goods and services for a medium of exchange --money Markets, demand, and supply.

ENVR 210 CLICKER QUESTIONS Chapter 4 – Question Set #3.

Supply and Demand: Changes in Equilibrium. Change in Market Equilibrium: Change in Demand Price of caviar (per pound) Quantity of caviar (millions of.

Chapter 6 Combining Supply and Demand. Equilibrium- where the supply and demand curves cross. Equilibrium determines the price and the quantity to be.

Demand.  Demand can be defined as the quantity of a particular good or service that consumers are willing and able to purchase at any given time.

SUPPLY CHAPTER 5. LAW OF SUPPLY SUPPLY: AMOUNT OF GOODS AVAILABLE SUPPLY: AMOUNT OF GOODS AVAILABLE PRICE INCREASES: SUPPLY INCREASES PRICE INCREASES:

“Supply, Demand, and Market Equilibrium”. Demand Review 1. What is Demand? 2. Give an example of substitute goods 3. Give an example of complementary.

Unit 3 SUPPLY AND DEMAND. Chapter 4 DEMAND  To have demand for a product you must be WILLING and ABLE to purchase the product  WILLING + ABLE = DEMAND.

Demand A Schedule Showing the Consumers are Willing and Able to Purchase At a Specified Set of Prices During A Specified Period of Time Amounts of a Good.

Exchange Rate Equilibrium Demand for a currency  Quantity demanded increases as price of currency decreases Supply of a currency for sale  Quantity supplied.

D1D1 The 4 shifts of the Supply and Demand Curve Shift 1- Demand Away D0D0 S 0 Price (P) Quantity (Q) P0P0 Q0Q0 P1P1 Q1Q1 4. ∆Q S; Movement along the S.

Supply and Demand Introduction and Demand

Supply and Determinants

Supply and Demand – Supply and Equilibrium

The Impact on Price or Quantity will be uncertain

Chapter Four: Supply and Demand.

The Demand and Supply Model

MARKET EQUILIBRIUM.

Law of Demand The quantity demanded of a good or service varies inversely with its price Or, in plain English, people want to buy less of something when.

Section 2 Module 6.

The Law of Supply and the Supply Curve

Chapter 4 Demand, Supply, and Equilibrium

Aggregate Demand and Supply

Demand Demand is a relationship which shows the various quantities consumers are willing and able to buy of a good at different possible prices of a good.

Unit One: Supply and Demand.

Warm-up True or False If only the price changes, the entire demand curve will move. Gaining or losing income will cause the demand curve to move right.

The Impact on Price or Quantity will be uncertain

Supply Unit 2: Supply and Demand.

What is supply?.

Understanding Supply.

SUPPLY Quantity supplied is the amount of a good that sellers are willing and able to sell. Law of Supply The law of supply states that, other things equal,

Change in Demand.

Supply & Demand # 5 What is Supply?.

Supply Supply Quantity Supplied Law of Supply

Be Careful! Change in Demand vs. Change in Quantity Demand

Shifts in both Supply and Demand What happens to Price

Module 5 Supply and Demand.

Demand: Desire, ability, and willingness to buy a product

Shifts in Demand Unit 2.

Supply Unit 2: Supply and Demand.

Markets, Demand, and Supply

SUPPLY AND DEMAND I: HOW MARKETS WORK

Factors that Shift Demand & Supply

Equilibrium of Supply & Demand

Presentation transcript:

Supply Changes in the QUANTITY Supplied vs. Changes in Supply

Price of caviar (per pound) Quantity of caviar (millions of pounds) 70 $30 $ $25 $20 $5 $10 $ $40 $45 95 Supply Schedule for Caviar Price of caviar (per pound) Quantity of caviar supplied (millions of pounds) $4080 $3570 $3060 $2550 $2040 $1530 $1020 Supply curve, S Supply Schedule and Supply Curve

Price of caviar (per pound) Quantity of caviar (millions of pounds) 70 $30 $ $25 $20 $5 $10 $ $40 $45 95 Supply Schedule for Caviar Price of caviar (per pound) Quantity of caviar supplied (millions of pounds) $ $ $ $ $ $ $ Supply curve, S in 2013 Supply curve, S in 2014 NOTICE: Price remained CONSTANT, but the quantity supplied changed. That is a change in supply. Supply Curve: Changes in Supply

Price of caviar (per pound) Quantity of caviar (millions of pounds) 70 $30 $ $25 $20 $5 $10 $ $40 $45 95 Supply Curve: Changes in Quantity Supplied vs. Changes in Supply Moving along the supply curve (NOTICE: this move CAUSES PRICE TO CHANGE) is simply a change in the quantity supplied. Both price and quantity supplied changed. If the quantity supplied changes, BUT PRICE DOES NOT, this is a change in supply. S1S1 S2S2 A C B

Price Quantity Demand Curve: Changes in Demand in General Left shift of the supply curve = decrease in supply Right shift of the supply curve = increase in supply S1S1 S2S2 S3S3 Supply curves are upward sloping