MARKET

3/16/00


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Table of Contents

MARKET

WHY DO MARKETS EXIST ?

TWO TYPES OF MARKETS

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What Do Firms Do ?

Firms Buy Factors of Production

TYPES OF FIRMS

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CURRENCY MARKETS AND EXCHANGE RATES

SUPPLY AND DEMAND

MARKET DEMAND

MARKET DEMAND How much a Consumer Demands of a Product depends on:

THE DEMAND CURVE

THE LAW OF DEMAND

TWO DEMAND EFFECTS

TWO DEMAND EFFECTS

Change in Quantity Demanded

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What Causes the Demand Curve to Shift (Change in Demand)

Demand Shift Causes

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Demand Shift Causes

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Demand Shift Causes

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Demand Shift Causes

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Other Factors Affecting Demand (Shift)

Individual Demand Curve

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Individual Demand Curve

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The Principle of Opportunity Cost

Substitution Effect

Income Effect

Income Effect

Income Effect

Income Effect

The Market Demand Curve

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Market Demand Assumptions

UTILITY

Marginal Utility

The Law of Diminishing Marginal Utility

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The Marginal Principle

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The Utility Maximizing Rule

The Utility Maximizing Rule

CONSUMER SURPLUS

Demand Curve and Consumer Surplus

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Author: yvette

Email: osman.zaim@orst.edu

Home Page: http://osu.orst.edu/instruct/econ201/osman/

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