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
2012-06-18
62
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 corre-sponding 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 purpose of this passage is to illustrate_____.
选项
A、the two sides of price system
B、the relationship between demand and supply
C、the relationship between price and quantity
D、the distinction between demand and quantity demanded
答案
A
解析
主旨题。本文先后阐述了需求和供给,即价格体系的两个重要方面。选项A是一个全面的概括,为正确答案。而其余选项则是片面的。
转载请注明原文地址:https://kaotiyun.com/show/PqnO777K
0
考博英语
相关试题推荐
Thescientist’sdiscoverywillhaveaprofoundinfluenceonmankind.
Hephonedhisunclewholivedinthecountry,askinghimto______histwoschoolmatesfortheweekend.
TheWTOleadershadbeenurgedsomecountriestomakenecessaryconcessiontopromotetheirmutualnegotiations.
Althoughspecificconcernsmaydeterminetheintentofaresearchproject,itsresultsareoften______.
Inproposing(suchphilanthropicdonations),thedirectorofthecompanycertainlyspoke(from)agenuineconcern(fortheneedy
WhenyouwatchafootballgameonaSaturdayafternoon,youfeelsecureinyourknowledgeofwhatwillhappenwhenaplayerboot
Tothegreatdisappointmentofthepublic,thewantedinthemurdercasesofarremains______.
Thinkofallthecriminalswhohavekilled,allthesoldierswhohavekilled;considerthemassmurderofJewsinNaziGermany.
Thereportsetsoutstrictinspectionprocedurestoensurethatrecommendationsareproperlyimplemented.
另一个文化差异是中国人传统上爱面子、讲形式、重礼貌。在对比美国人待人接物时,他们并不经常谈论丢脸、得脸、赏脸的事。美国人关心名誉,他们的确想到了“体面”,并使别人“显得体面”。无论如何,在日常交往上,他们更注重实质方面,而不介意一个特殊行动将使某人丢脸或得
随机试题
在资产配置过程中,确定有效资产组合的边界的目的是找出最小方差组合。()
学生对“借喻”这一修辞手法不太了解,教师搜集课文中的例子来讲解,下列语句适合的是()。
2012年,我国电子信息产品进出口呈小幅增长态势,进出口总额11868亿美元,增长5.1%,增速比上年回落6.4个百分点,低于全国商品外贸总额增速1.1个百分点,占全国外贸总额的30.7%。其中,出口6980亿美元,增长5.6%,增速比上年回落6.3个百分
对于先泰儒家学者所概括出的五种人伦关系,董仲舒最为强调的三种是()。
对二叉排序树进行查找的方法是:用待查的值与根结点的值相比,若比根小,则继续在【】子树中找。
下列符号中能够作为C++标识符的是()。
目前,比较流行的UNIX系统属于______。
Doyougiveyourchildrenmoneywhentheyperformwellatschool?Accordingtoastudy,suchanactioncouldbe【C6】________t
ImproveYourPublicSpeakingSkills1.Practiceina【T1】environment【T1】______Receivefeedbackabouttheir【T2】【T2】______Practic
TipsforThoseWhoTravelAloneA)Whenitcomestotraveling,sometimestakingajourneyalonecanbegreat.Travelingalon
最新回复
(
0
)