Содержание
- 2. Theory of Demand Theory of Supply Market Equilibrium Government Intervention in the Market Laws of market
- 3. Demand for a commodity Depends on size of the market (Industry Demand for the commodity) Summation
- 4. How are price and demand related for a good? (law of demand) Normal Goods Inferior Goods
- 5. Horizontal Summation of Individual Demand Curves Negatively sloped, why? Inverse relation between price and quantity QD=
- 6. Change in demand Change in quantity Demanded Market Demand
- 7. Monopolist WAPDA Perfect Competition No true example exists (Small scale farmers producing homogeneous wheat in USA)
- 8. Oligopoly Few firms with standardized or differentiated product Monopolistic Competition Heterogeneous and differentiated products Factors effecting
- 9. Firms selling durable goods face more volatile & unstable demand Like automobiles, washing machines, water geezers
- 10. Demand function faced by a firm QD= a0+a1Px +a2I+a3N+a4Py+ a5T…………… “a” is coefficient to be estimated
- 11. Theory of Demand Theory of Supply Market Equilibrium Government Intervention in the Market Laws of market
- 12. The quantity sellers are willing to sell at a given price level Depends on: Price of
- 13. The higher the price, greater is the quantity sellers are willing to sell in the market
- 14. Horizontal Summation of Individual Supply Curves Positively sloped, why? Positive relation between price and quantity Market
- 15. Change in supply Change in quantity supplied Market Supply
- 16. Theory of Demand Theory of Supply Market Equilibrium Government Intervention in the Market Laws of market
- 17. Equilibrium exists when quantity sellers are willing to sell is equal to the quantity buyers are
- 18. Surplus - Results in downward pressure on the price Shortage - Results in upward pressure on
- 19. Theory of Demand Theory of Supply Market Equilibrium Government Intervention in the Market Laws of market
- 20. Public Sector Services Monopolies Restrictions and Barriers to Entry Reducing Trade Barriers Vs Import Tariffs Taxation
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