首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
In economics, demand implies something slightly different from the common meaning of the term. The layman, for example, often us
In economics, demand implies something slightly different from the common meaning of the term. The layman, for example, often us
admin
2015-01-09
57
问题
In economics, demand implies something slightly different from the common meaning of the term. The layman, for example, often used the term to mean the amount that is demanded of an item. Thus,if the price were to decrease and individuals wanted more of the item, it is commonly said that demand increases. To an economist, demand is a relationship between a series of prices and a series of corresponding quantities that are demanded at these prices. If one reads the previous sentences carefully, it should become apparent that there is a distinction between the quantity demanded and demand. This distinction is often a point of confusion and we all should be aware of and understand the difference between these two items. We repeat, therefore, that demand is a relationship between price and quantities demanded,and therefore suggests the effect of one(e.g., price)on the other(e.g. quantity demanded). Therefore, knowledge of the demand for a product enables one to predict how much more of a product will be purchased if price decreases. But the increase in quantity demanded does not mean demand has increased, since the relationship between price and quantity(i.e., the demand for the product)has not changed. Demand shifts when there is a change in income, expectations, tastes,etc., such that a different quantity of the product is demanded at the same price.
In almost all cases, a consumer wants more of an item if the price decreases. This relationship between price and quantity demanded is so strong that it is referred to as the’law of demand". This"law"can be explained by the income and substitution effects. The income effect occurs because price increas-es reduce the purchasing power of the individual and,thus,the quantity demanded of goods must de-crease. The substitution effect reflects the consumer’s desire to get the "best buy". Accordingly, if the price of product A increases, the individual will tend to substitute another product and purchase less of goods A. The negative correlation between price and quantity demanded is also explained by the law of diminishing marginal utility. According to this law, the additional utility the consumer gains from consum-ing a product decreases as successively more units of the product are consumed. Because the additional units yield less utility or satisfaction, the consumer is willing to purchase more only if the price of the product decreases.
Economists distinguish between individual and market demand. As the term implies, individual demand concerns the individual consumer and illustrate the quantities that individuals demand at different prices. Market demand includes the demand of all individuals for a particular goods and is found by summing the quantities demanded by all individuals at the various prices.
The other side of the price system is supply. As in the case of demand, supply is a relationship between a series of prices and the associated quantities supplied. It is assumed that as price increases the individual or firm will supply greater quantities of a product. There is a positive correlation between quantity supplied and product price.
Economists also distinguish between a change in supply and quantity supplied. The distinction is similar to the one made with respect to demand. Also, as in the case of demand, economists distinguish between individual firm supply and market supply, which is the summation of individual supply.
Taken together, supply and demand yield equilibrium of price and quantity. Equilibrium is a state of stability, with balanced forces in which prices and quantity will remain constant. Moreover, there are forces in the market that will act to establish equilibrium if changes in demand or supply create disequilibrium. For example, if prices are above equilibrium, the quantity supplied exceeds quantity demanded and surpluses occur that have a downward pressure on prices. These pressures will persist until equilibrium is established. If prices are below equilibrium, the product will become scare and there will be an upward pressure on price.
The word"equilibrium"(Line1 Para.6)most probably means_____.
选项
A、stability
B、balance
C、summation
D、consistency
答案
B
解析
词汇理解题。根据最后一段中的“Equilibrium is a state of stability,with balanced forces in whichprices and quantity will remain constant.”可推断出,“Equilibrium”是“平衡”的意思。故正确答案为B。
转载请注明原文地址:https://jikaoti.com/ti/3w6YFFFM
0
考博英语
相关试题推荐
Thisspeculation(acoursetaughtwithtechnologyhelpsstudentslearnmorethantheonetaughtintheliveclassroom)isnotbase
Mostofuswouldliketofeelwehavesomeinfluenceoverwhathappensaroundusandtous.Citizensspeakouttoinfluencepoli
Our______withthePresidentattheairportwasexciting.
Thechairmanmadea(n)______statementbeforebeginningthemainbusinessofthemeeting.
Thesalesofthebookbythefamouswritercontinueto______likearunawayballoon.
Iwasbornin1927,theonlychildofmiddle-classparents.Iwassenttoapublicschool,Iwastedtwoyearsdoingmynational
Older,lessdogmatictheoriesbetterexplainedhowtheproblemsinthefinancial______draggeddowntherestoftheeconomy.
Becausefuelsuppliesarefiniteandmanypeoplearewasteful,wewillhavetoinstall______solarheatingdeviceinourhome.
Fornearly50years,Speckhasbeena______author,writing13booksincludinganautobiographyandnumerousmagazinearticles.
(北京大学2006年试题)LastyearFrenchdriverskilled【1】than5,000peopleontheroadsforthefirsttimeindecades.Creditgoesla
随机试题
Mostyoungpeopleenjoysomeformsofphysicalactivity.Itmaybewalking,bicycling,orswimming,orinwinter,skatingorski
男,16岁,贫血、黄疸7年。脾肋下2.8cm,Hb70g/L,网织红细胞0.10,白细胞和血小板计数正常。骨髓增生明显活跃,以红系增生为主,红细胞渗透脆性试验在0.70%盐水溶液中开始溶血。其父也有轻度贫血及黄疸。欲完善诊断依据,还应选作哪项检查
A.造血干细胞增殖分化障碍B.造血物质缺乏或利用障碍C.红细胞膜异常D.红细胞丢失过多E.免疫溶血因素骨髓增生异常综合征的病因主要是
AMI的早期标志物是
某建设项目以财务净现值为指标进行敏感性分析的有关数据如下表所示。则该建设项目投资额变化幅度的临界点是()。
仲裁庭由()名仲裁员组成时,应设首席仲裁员。
截面为矩形,非合金钢经电镀法加工而成的平板镀锌铁皮(规格:750*1500mm,厚度1mm)
根据所给材料计算后回答问题。(须列出算式;每个问题计算过程中的小数均保留实际位数,每个问题后计算结果有小数的,只取整数)由甲的主编、甲和乙合作编写的一本书交出版社出版。出版合同约定:出版社以版税方式支付甲的主编稿酬,版税率为3%,按实际销售数结算
给定资料1.在楼市一片惨淡的2014年.教改“新政”的出台却意外让学区房更加火爆。据义务教育免试就近入学方案要求,到2015年19个城市将实现100%的小学划片就近入学,90%以上的初中实现划片入学政策,本来就炙手可热的学区房价格再次掀
Студенты,____учитсяхорошо,получаютзолотуюмедаль.
最新回复
(
0
)