Supply & Demand Graphing Analysis of changes in S & D.

Slides:

Advertisements

Similar presentations

Demand and Supply CHAPTER 4 C H A P T E R C H E C K L I S T When you have completed your study of this chapter, you will be able to 1 Distinguish between.

Advertisements

MID Year Graphs You should know and be able to draw, explain and label all parts.

1 DEMAND AND SUPPLY. 2 Price Elasticity of Demand “ Measures the degree of responsiveness of the quantity demanded of a commodity to changes in its prices,

2 SUPPLY AND DEMAND I: HOW MARKETS WORK. Copyright © 2006 Thomson Learning 4 The Market Forces of Supply and Demand.

Copyright © 2004 South-Western 4 The Market Forces of Supply and Demand.

 Barter – goods are traded directly for other goods  Problem: › requires double coincidence of wants (have to find someone who has what I want and who.

Law of Supply MICROECONOMICS SSEMI2

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

Demand and Supply CHAPTER 4 When you have completed your study of this chapter, you will be able to C H A P T E R C H E C K L I S T Distinguish between.

Demand. Quantity of a product that buyers are willing and able to purchase at any and all prices Consumers are interested in receiving the most satisfaction.

Supply and Demand Objective: To understand how the supply and demand curve shifts Warm-Up 1)How are the supply schedule and supply curve related? Why does.

Supply. Objectives SWBAT explain how supply shifts and affects price.

Principles of Macroeconomics

Supply 12th Economics.

Introduction to Supply and Demand. Demand Demand: a schedule showing the quantities of a good or service consumers are willing and able to purchase at.

Unit 2 – Supply and Demand. Categories Terms / ConceptsDemandSupplyEquilibriumDeterminants

Copyright © 2010, All rights reserved eStudy.us Market Demand, Supply and Equilibrium.

 Quiz Returned  Law of Supply  Homework  Supply and Demand  Worksheet  Homework Read Naked Economics, Chapter 1 Review Powerpoint for next class.

Supply. Thinking about Supply To understand supply, think like a producer, not a consumer. Profits generally motivate producers: if profits can be high,

4.2.  Occasionally something happens to change people’s willingness and ability to buy.  These changes are usually of two types: quantity demanded 

When you have completed your study of this chapter, you will be able to C H A P T E R C H E C K L I S T Distinguish between quantity demanded and demand.

Equilibrium Market Prices Economics. The concept of the equilibrium price  Equilibrium means a state of equality between demand and supply D S.

What is the law of Demand in your own words? Do First.

Demand: a schedule showing the quantities of a good or service consumers are willing and able to purchase at various prices during a time period and ceterus.

© 2007 Thomson South-Western A market is a group of buyers and sellers of a particular good or service. The terms supply and demand refer to the behavior.

CONTEMPORARY ECONOMICS© Thomson South-Western 6.2Shifts of Demand and Supply Curves  Explain how a shift of the demand curve affects equilibrium price.

Bellringer If you were in charge of merchandising for a shoe company, how would you know what price to set for each pair of shoes?

Shifting D & S. Shifting D or S If anything other than price changes, we must shift one or both curves We call this shifting “increasing” or “decreasing”

Supply 1. Supply Defined What is supply? Supply is the different quantities of a good that sellers are willing and able to sell (produce) at different.

Supply & Demand Graphing Analysis of changes in S & D HINT: Get out the supply & demand shift worksheets and the reasons for shifts. This will be helpful.

Putting Supply and Demand Together!!! 1. Q o $ P Demand Schedule PQd $510 $420 $330 $250 $180 D S Supply Schedule PQs.

FACTORS THAT AFFECT SUPPLY. CHANGES IN QUANTITY SUPPLIED An increase or decrease in the amount of a good or service that producers are willing to sell.

A) larger is the demand for the good

Supply 1. 5 Shifters of Supply 2 Subsidies It is government payment to support business or market. Subsidies cause the supply of a good to increase. 1.Input.

Unit 2: Supply, Demand, and Consumer Choice Demand Practice In-and-Out Hamburgers (a normal good) 1.Population boom 2.Incomes fall due to recession 3.Price.

Supply 1. Supply Defined What is supply? Supply is the different quantities of a good that sellers are willing and able to sell (produce) at different.

Economics 10/13/15 Vocab: Law of Demand Journal: 1.)Copy and complete the chart on page 85 in your journal.

A Change in Equilibrium October 20 th, Changes in DemandChanges in Demand  What are the two ways that Supply can shift?  What Causes Supply to.

Ch. 5. Supply- The quantity of goods and services that producers are willing and able to offer at various prices during a given time period Law of Supply-

1 Sect. 2 - Supply and Demand Module 5 - Intro & Demand What you will learn: What a competitive market is and how it is described by the supply and demand.

Supply, Demand, and Consumer Choice 1. VERY IMPORTANT COW! 2.

Aim: What is the law of supply and demand?

Shifting Supply and Demand

LESSON 6.2 Shifts of Demand and Supply Curves

Unit 2: Supply, Demand, and Consumer Choice

MARKET EQUILIBRIUM.

Pop Quiz- answer these questions on a sheet of paper

S&D: Supply Shifts Price

6-1: Seeking Equilibrium: Demand and Supply

Can you see me?.

Basic Economic Concepts

Unit 1: Demand, Supply, and Consumer Choice

Basic Economic Concepts

Changes In Equilibrium

S&D: Demand Shifts What is the equilibrium price?

Unit 1: Demand, Supply, and Consumer Choice

S&D: Graphing! What are some substitute products for a music CD?

Unit 2: Supply, Demand, and Consumer Choice

Shifts in both Supply and Demand What happens to Price

Demand Practice EOCT Questions

Jeopardy SUPPLY DEMAND SUPPLY SHIFTS GRAPHS & MATH

IT LOOKS LIKE IT LookS LIKE 2 Curves 1 Curve 1 Price 2 PRICES

Economics final microeconomics review

S&D: Graphing! What are some substitute products for a music CD?

Changes In Equilibrium

Changes In Equilibrium

Factors that Shift Demand & Supply

Presentation transcript:

Supply & Demand Graphing Analysis of changes in S & D

Guiding Questions Draw & Label this graph! Then draw one for each of the following scenarios… Before drawing graphs, ask yourself these questions to guide your thinking: Is there a 3 rd variable causing a shift in S or D? Does the shift affect primarily S or D? Does the shift cause an increase or a decrease( L or R)?

Market: Plywood Factor # 1: Hurricane Approaches Factor # 2: All power out after hurricane within 100 miles. 1.a market graph and draw the appropriate shifts in Supply & Demand 2.Explain what happens to price & quantity?

2012 Toyota Prius Hybrid Factor # 1: Car & Driver Mag says it gets 55 MPG Factor # 2: Toyota signs a labor agreement raising wages 5% 1.Construct a market graph and draw the appropriate shifts in Supply & Demand 2.Explain what happens to price & quantity?

Burger King Food Factor # 1: 20% Excise tax placed on producers of fatty fast foods Factor # 2: New apartments and condo’s just opened next door 1.Construct a market graph and draw the appropriate shifts in Supply & Demand 2.Explain what happens to price & quantity?

Skittles Factor # 1: Price of Starbursts decreases by 50% Factor # 2: Price of sugar increases by 10% 1.Construct a market graph and draw the appropriate shifts in Supply & Demand 2.Explain what happens to price & quantity?

Little Caesars Large Pizza Factor # 1: Surrounding area reports of 10% greater income this year Factor # 2: Price of sauce increases as tomatoes freeze 1.Construct a market graph and draw the appropriate shifts in Supply & Demand 2.Explain what happens to price & quantity?

Schwan’s Specialty Ice Cream Factor # 1: Michigan goes into a deep recession Factor # 2: Milk prices rise due to MAD COW DISEASE 1.Construct a market graph and draw the appropriate shifts in Supply & Demand 2.Explain what happens to price & quantity?