PPT-The Supply and Demand for

Productive Resources Human and Nonhuman Resources Introduction Productive assets are bought and sold in resource markets These markets help determine what is produced how it is produced and the distribution of income. © Peter . Berck . 2012. Lecture Outline. Goods. People Demand Goods; . Shift in demand. Firms . Supply Goods; . Keep Supply and Demand Separate. Demand and Supply intersect at the equilibrium price and . 1. 2. What is a Market?. Market. is a mechanism through which buyers and sellers (individuals, firms, agents or dealers) of a good (or service) interact to determine price and quantity of a product. . . Presented by Paul . Sumade. . Lee. Chairman, International Rubber Association. . 28. May 2015, Shanghai, China. Agenda . SECTION . 1. . SECTION . 2. . SECTION 3. SECTION 4. Global Supply and Demand. Introduction to Demand. In the United States, the forces of supply and demand work together to set prices. . Demand. is the desire, willingness, and ability to buy a good or service.. one individual consumer OR. Wonka. Learning Target #5. I can explain . how the prices of goods and services are determined by supply and demand.. Let’s review:. SUPPLY = how much or how many of a good or service is available. Introduction to Demand. In the United States, the forces of supply and demand work together to set prices. . Demand. is the desire, willingness, and ability to buy a good or service.. one individual consumer OR. Today:. Aggregate demand. Why is it downward sloping?. Factors that affect the aggregate demand. Aggregate supply. Long-run aggregate supply. Short-run aggregate supply. Why is it upward sloping?. Factors that affect the short-run aggregate supply. 1. 4 Demand, Supply, and Equilibrium. 4.1 Markets. 4.2 How Do Buyers Behave?. 4.3 How Do Sellers Behave?. 4.4 Supply and Demand in Equilibrium. 4.5 What Would Happen if the Government Tried to Dictate the Price of Gasoline. 5.2 How Do Demand and Price Interact?. Demand. . is what people are willing and able to buy at various prices.. • Quantity demanded is a specific amount an individual is willing and able to . buy at . . by Wiley Miller. . . MARKETS. Institution that brings together . buyers (DEMAND) . and sellers (SUPPLY) of resources, goods and services. DEMAND is. Amount of a good or service consumers are . Essential Question:. What are demand and supply, and what factors influence them?. Demand and price. Demand comes at a price. . Burger. . . Quantity. demanded . – amount of a good/service consumers are willing to pay . price. Demand. Desire to want something and the ability to pay for it. Law of Demand. When the price of goods goes down, then demand goes up and if the price goes up, then demand goes down. Graphing Demand. The quantity of a specific product that a buyer is . able. . and . willing. to buy at a certain price. Usually at a particular . time. and . place. Remember those . time and place utilities . that add value to a product??. Click here. to enter….. What is supply?. What is a supply curve shift?. Why are people so demanding?. What could cause a demand curve shift?. To learn about the. topics, click on the . word bubble...