PPT-Three questions to ask about Demand & Supply Shifters?

What are they Meder The three questions are Does the event headline affect Demand Supply or Both Does the event headline shift the graph to the right increase or Left decrease What are the new equilibrium price and quantity P2 amp Q2. © 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 . . 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. (INSECT). AKA Determinants of Demand. Demand shifters, or determinants, are any factors that if changed, will cause the demand curve to shift out / right / up or in / left / down. Shifters will cause people to demand MORE or LESS of the good AT ANY PRICE.. 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. Chapter 4. Outline. Equilibrium and the Adjustment Process. A Free Market Maximizes Producer . Plus Consumer . Surplus (the Gains from . Trade. ). Does the Model Work? Evidence . from the . Laboratory. 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. AP Economics. Ms. . LaRosa. What would you be willing to buy?. How many bags of your favorite candy would you be willing to buy at each of the following prices over one-week?. $1. $2.50. $5. What is Demand?. The Basic Decision-Making Units. A . firm. is an organization that transforms resources (inputs) into products (outputs). Firms are the primary producing units in a market economy.. An . entrepreneur. 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. 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 . Let's Take A Look At The . Five Demand Shifters. ["TIMER"]. Concentration on these slides is guaranted . to improve your economics grade.. Warning. . D. 1. . D. 2. P. QD. 1. QD. 2. 1."Change in Taste". In constructing a . supply. . curve. , it is assumed that . price. is the most significant influence on the . quantity. . supplied. of any product.. But other . factors. (“other things equal”) can and do affect . . 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 . . . Demand is the different quantities of workers that . businesses. are . willing . and. able. to hire at different wages.. What is the Law of Demand for Labor? . There is an . INVERSE. relationship between wage and quantity of labor demanded..