🗊Презентация Introduction to economics

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Introduction to economics, слайд №1Introduction to economics, слайд №2Introduction to economics, слайд №3Introduction to economics, слайд №4Introduction to economics, слайд №5Introduction to economics, слайд №6Introduction to economics, слайд №7Introduction to economics, слайд №8Introduction to economics, слайд №9Introduction to economics, слайд №10Introduction to economics, слайд №11Introduction to economics, слайд №12Introduction to economics, слайд №13Introduction to economics, слайд №14Introduction to economics, слайд №15Introduction to economics, слайд №16Introduction to economics, слайд №17Introduction to economics, слайд №18Introduction to economics, слайд №19Introduction to economics, слайд №20Introduction to economics, слайд №21Introduction to economics, слайд №22Introduction to economics, слайд №23Introduction to economics, слайд №24Introduction to economics, слайд №25Introduction to economics, слайд №26
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Слайды и текст этой презентации

Слайд 1


Introduction to Economics Elasticity Janet McCaig
Описание слайда:
Introduction to Economics Elasticity Janet McCaig

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Elasticity Price elasticity of demand Price elasticity of supply Measuring elasticity Interpreting the figures for elasticity D
Описание слайда:
Elasticity Price elasticity of demand Price elasticity of supply Measuring elasticity Interpreting the figures for elasticity D

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Market supply and demand
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Market supply and demand

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Price elasticity of demand The responsiveness of quantity demanded to a change in price One of the most important concepts in economics Price elasticity of demand varies enormously from product to product ( oil & cabbage)
Описание слайда:
Price elasticity of demand The responsiveness of quantity demanded to a change in price One of the most important concepts in economics Price elasticity of demand varies enormously from product to product ( oil & cabbage)

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Price Elasticity of Demand Measures the responsiveness of quantity demanded to changes in a good’s own price. The price elasticity of demand is the percent change in quantity demanded divided by the percent change in price that caused the change in quantity demanded.
Описание слайда:
Price Elasticity of Demand Measures the responsiveness of quantity demanded to changes in a good’s own price. The price elasticity of demand is the percent change in quantity demanded divided by the percent change in price that caused the change in quantity demanded.

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Price Elasticity of Demand Determinants of price elasticity of demand number and closeness of substitute goods proportion of income spent on the good the time period
Описание слайда:
Price Elasticity of Demand Determinants of price elasticity of demand number and closeness of substitute goods proportion of income spent on the good the time period

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Measuring the Price Elasticity of Demand What we want to compare is the size of the change in quantity demanded with the size of the change in price. percentage change in quantity demanded divided by percentage change in D
Описание слайда:
Measuring the Price Elasticity of Demand What we want to compare is the size of the change in quantity demanded with the size of the change in price. percentage change in quantity demanded divided by percentage change in D

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(the Greek epsilon) is the symbol used for elasticity ) is the symbol for “a change in” Changes are measured in % - £1 increase depends on original price Can of beans House
Описание слайда:
(the Greek epsilon) is the symbol used for elasticity ) is the symbol for “a change in” Changes are measured in % - £1 increase depends on original price Can of beans House

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40% rise in price of oil causes a 10% fall in quantity demanded -10%/40% = -0.25
Описание слайда:
40% rise in price of oil causes a 10% fall in quantity demanded -10%/40% = -0.25

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Interpreting the figure for elasticity of demand Demand curves generally slope downward Price and quantity change in opposite directions A rise in price ( a positive figure) will cause a fall in the quantity demanded ( a negative figure) A fall in price will cause a rise in quantity demanded When working out price elasticity of demand we either divide a negative figure by a positive figure Or a positive figure by a negative figure Either way end up with a negative figure
Описание слайда:
Interpreting the figure for elasticity of demand Demand curves generally slope downward Price and quantity change in opposite directions A rise in price ( a positive figure) will cause a fall in the quantity demanded ( a negative figure) A fall in price will cause a rise in quantity demanded When working out price elasticity of demand we either divide a negative figure by a positive figure Or a positive figure by a negative figure Either way end up with a negative figure

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Interpreting the figure for elasticity of demand The value greater or lesser than 1 Elastic 1 Inelastic 1 Unit elastic = 1
Описание слайда:
Interpreting the figure for elasticity of demand The value greater or lesser than 1 Elastic 1 Inelastic 1 Unit elastic = 1

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Price Elasticity of Demand and Consumer Expenditure One of the most important applications of price elasticity of demand concerns total amount of money consumers spend on a product Total Consumer Expenditure - TE Price multiplied by Quantity TE = P x Q
Описание слайда:
Price Elasticity of Demand and Consumer Expenditure One of the most important applications of price elasticity of demand concerns total amount of money consumers spend on a product Total Consumer Expenditure - TE Price multiplied by Quantity TE = P x Q

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Price Elasticity of Demand and Consumer Expenditure Defining total consumer expenditure TE = P × Q Illustrating TE graphically Effects of a price change: elastic demand P rises: TE falls P falls: TE rises
Описание слайда:
Price Elasticity of Demand and Consumer Expenditure Defining total consumer expenditure TE = P × Q Illustrating TE graphically Effects of a price change: elastic demand P rises: TE falls P falls: TE rises

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Example If consumers buy 3 million units (Q) at a price of £2 per unit (P) Total is £6 million (TE)
Описание слайда:
Example If consumers buy 3 million units (Q) at a price of £2 per unit (P) Total is £6 million (TE)

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Total consumer expenditure will be the same as the total revenue (TR) received by firms from the sale of the product (before taxes and other deductions)
Описание слайда:
Total consumer expenditure will be the same as the total revenue (TR) received by firms from the sale of the product (before taxes and other deductions)

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Total Expenditure
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Total Expenditure

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Elastic demand between two points
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Elastic demand between two points

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Warning Elasticity will generally vary along the length of the curve Common mistake to think of the elasticity of the whole curve 2 exceptions - special cases – 2 curves on one diagram
Описание слайда:
Warning Elasticity will generally vary along the length of the curve Common mistake to think of the elasticity of the whole curve 2 exceptions - special cases – 2 curves on one diagram

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Introduction to economics, слайд №19
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Special Cases
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Special Cases

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Review https://www.youtube.com/watch?v=-b7xlINQ-zg End of Session 1
Описание слайда:
Review https://www.youtube.com/watch?v=-b7xlINQ-zg End of Session 1

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Price Elasticity of Supply Price elasticity of supply is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price.
Описание слайда:
Price Elasticity of Supply Price elasticity of supply is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price.

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Price Elasticity of Supply Measuring price elasticity of supply %QS / %P elastic and inelastic supply Determinants of price elasticity of supply amount that costs rise as output increases time period
Описание слайда:
Price Elasticity of Supply Measuring price elasticity of supply %QS / %P elastic and inelastic supply Determinants of price elasticity of supply amount that costs rise as output increases time period

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The effect of imposing tax on goods Government intervention in the markets Indirect taxes, VAT, excise duties on cigarettes petrol & alcohol May be fixed per unit sold ( specific tax) Asa % of the price at each stage of production (Ad valorem tax)
Описание слайда:
The effect of imposing tax on goods Government intervention in the markets Indirect taxes, VAT, excise duties on cigarettes petrol & alcohol May be fixed per unit sold ( specific tax) Asa % of the price at each stage of production (Ad valorem tax)

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Introduction to economics, слайд №25
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Activities Work on case study Ashes to Ashes (pg 80 course text book) Research the CAP in small groups in the computer lab then report back to the class http://ec.europa.eu/avservices/video/player.cfm?ref=I101051 http://ec.europa.eu/avservices/video/player.cfm?ref=I101081
Описание слайда:
Activities Work on case study Ashes to Ashes (pg 80 course text book) Research the CAP in small groups in the computer lab then report back to the class http://ec.europa.eu/avservices/video/player.cfm?ref=I101051 http://ec.europa.eu/avservices/video/player.cfm?ref=I101081

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