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《The Price Mechanism》由會(huì)員上傳分享，免費(fèi)在線閱讀，更多相關(guān)內(nèi)容在教育資源-天天文庫(kù)。
1、2.ThePriceMechanismDemandThisisdeterminedbytheconsumerandistheamountofaproductthataconsumerwillbuyatvariousprices.Thefollowinginformationwasconstructedfromaclassactivity:DemandscheduleforMineralWater:Ademandscheduleisatablethatshowstherelationshipbetweenpriceandquantitydemanded.
2、QuantityDemanded(bottles)20406080100Price(cents)2001501006030DemandCurve:Agraphofthedemandscheduleiscalledademandcurve.SupplyThisistheamountofaproductthataproduceriswillingtosellintothemarketatvariousprices.Thefollowinginformationwasconstructedfromaclassactivity:7Supplyschedulef
3、orMineralWater:Asupplyscheduleisatablethatshowstherelationshipbetweenpriceandquantitysupplied.QuantitySupplied(bottles)8070605040Price(cents)2001501006010SupplyCurve:Agraphoftheabovesupplyscheduleiscalledasupplycurve.EquilibriumWhenyouplotbothcurvesonthesamegraphyouwilldiscovert
4、hefollowingdiagram:7Whatisthesignificanceofthepointwherethetwographsmeet?Itisthepointofequilibriumorthepointwheredemandandsupplyareequal.Ifyounoticetheamountsuppliedbyproducersandtheamountdemandedbyconsumersisequalatthispoint.Atapriceof100centsthesupplyofmineralwaterisequaltothe
5、demandformineralwater.Thispointiscalledequilibrium.Thereisnosurplusproductionofmineralwaterandnoshortageofmineralwateratthispoint.Sixtybottlesofmineralwaterwillbeexchangedatapriceofonedollar.Whatisthepricemechanism?Thepricemechanismexplainshowtheforcesofdemandandsupplydeterminet
6、hefourfundamentaleconomicquestions.Thedemandandsupplyofgoodsandserviceswilldetermineanequilibriumpriceandquantityforallproducts.Theconsumerdecideshowmuchofaproductthattheywanttobuyatvariousprices.Theproducerdecideshowmuchtheywanttosellatvariousprices.Whenproducersandconsumersagr
7、eeandsupplyanddemandareequalthereisanequilibriumpointatwhichthemarketpriceandquantityareset.SolutionstotheEconomicProblemWhatarethefourfundamentalquestionsthatalleconomicsystemsmustanswer?1.Whattoproduce?Theeconomymustdecideoutofalltheproductsthatconsumerswant,whichoneswillbesat
8、isfied.2.Howmuchtoproduce?Oncetheeconomyhasdeci
