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
65
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.
According to the passage, demand____.
选项
A、increases as price decreases
B、can be predicted if there is a change in price
C、remains constant at the same price
D、is influenced by changes in the consumer’s income and tastes
答案
D
解析
词汇理解题。根据第一段的最后一句“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.”可知。需求是由收入、期望和判断力等决定的。故正确答案为D。
转载请注明原文地址:https://kaotiyun.com/show/RqnO777K
0
考博英语
相关试题推荐
Scientistsgenerallyholdthatlanguagehasbeensolonginusethatthelengthoftimewritingisknowntocoveris______inco
Culturalconflicts,suchasthosethattroubleAmericansocietytoday,maysometimesappeartobelessthanserioussquabblesbe
Inthesummerof999,LeifEriksonvoyagedtoNorwayandspentthefollowingwinterwithKingOlafTryggvason.Substantiallythe
Themainfeatureofaconvention--apatternofbehaviorthatiscustomary,expected,andself-enforced--isthat,outofahosto
Humanfacialexpressionsdifferfromthoseofanimalsinthedegreetowhichtheycanbe______controlledandmodified.
Whenherealizedthetruenatureoftheproposal,he______allcommunicationwiththegroup.
TherepressionintheNetherlands,insteadofsolvingacrucialproblem,elicitedbittercriticismfromeverymajorEuropeansta
Tothegreatdisappointmentofthepublic,thewantedinthemurdercasesofarremains______.
Dinnerwillbeready____,butwestillhavetimeforadrink.
随机试题
A)Thesetoolscanhelpyouwineveryargument—notintheunhelpfulsenseofbeatingyouropponentsbutinthebettersenseof
甲公司因合同纠纷向法院提起诉讼,要求乙公司支付货款280万元。在法院的主持下,双方达成调解协议。协议约定:乙公司在调解书生效后10日内支付280万元本金,另支付利息5万元。为保证协议履行,双方约定由丙公司为乙公司提供担保,丙公司同意。法院据此制作调解书送达
施工企业实施整体项目管理的重要策划文件是()
验收过程,监理单位的监理包括( )。
孔子说:“知之者不如好之者,好之者不如乐之者。”______,正是他们把求知当成人事乐事,才这样乐此不彼,乐而忘返。文章中横线上应填入的三句话,顺序合理的一项是()①这与其说是“苦”,倒不如说是“乐”②许多学业上有成就的人,刻苦读书
下列关于世界古代文明的说法正确的是:
科学发展观要求全力提高经济增长的质量。关于其中的内涵,下列说法错误的是()。
20世纪50一60年代,一些发达国家的“白领工人”的数量就超过了“蓝领工人”。到目前,从事体力劳动的“蓝领工人”的数量下降到工人总数的20%,而从事脑力劳动的“白领工人”的数量则由少数上升到工人总数的70%左右。此外,还出现了高度熟练、掌握高精尖技术的所谓
在进行数据库物理设计时,为了保证系统性能,需要综合考虑所选择的数据库管理系统的特性及软硬件具体情况。下列关于数据库物理设计的说法,错误的是()。
在OLAP的实现方式中,以多维数组作为存储结构的被称作【14】OLAP。
最新回复
(
0
)