AP微观经济学Markets&Prices(一)
指间流沙 2018-08-11     15:21 来源: 来自互联网
评论 0
点赞0
阅读 157

AP微观经济学Markets&Prices(一)

  今天,三立为AP考生们搜集整理了关于AP微观经济学基础知识要点Markets&Prices(一),值得借鉴。

  Chapter 2

  Markets and Prices

  1. Demand:

  is the desire to have some good or service and the ability to pay for it.

  Their willingness and ability to purchase vary in response to price.

  Demand is a record of how people's buying habits change in response to price. It is a whole series of quantities that consumers will buy at the different prices level at which they will make these purchases.

  Hence, a demand schedule:

  Figure 2.1

AP微观经济学Markets&Prices

  1.1 Law of demand

  As the price goes down, quantity demanded goes up. This inverse relationship is called the law of downward-sloping demand.

  In any time period, consumer will derive less satisfaction (utility) from each successive unit of a good consumed. This is Diminishing Marginal Utility. Each successive unit brings less utility and consumer will only buy more at lower prices.

  At higher prices, consumers are more willing and able to look for substitutes. The substitution effect suggests that at a lower price, consumers have the incentive to substitute the cheaper good for the more expensive.

  A decline in the price of a good will give more purchasing power to the consumer and he can buy more now with the same amount of income. This is the income effect.

  1.2 Change in quantity demanded

  Movement along the same demand curve caused by a change in price!

AP微观经济学Markets&Prices

Demand

  1.3 Change in demand

  9  10                                  Q

AP微观经济学Markets&Prices

  1.4 Determinants of demand

  T - Consumers’ tastes and preferences: What was once perceived as useful or useless, stylish or ugly, healthy or dangerous now can become its opposite.

  R - The price of related goods:

  Substitutes: Demand for the substitute will increase if the price of the original item rises.

  Complementary: if a decrease in the price of one good increases demand for the other good.

  I - Income:

  Normal goods: an increase in income leads to a rightward shift in the demand curve.

  Inferior goods: an increase in income leads to a leftward shift in the demand curve, since these are usually low-quality items that people will avoid when they have more to spend.

  B - The number of buyers in the market: demand depends on the size of the market.

  E - Consumer expectations: If you expect that there will be a sharp increase in prices for a particular goods in the near future, you may increase your demand for that good now.

  2. Explanations of the Law of Demand

  2.1 The Income and Substitution Effect

  Combine to make a consumer able and willing to buy more of a specific good at a low price than at a high price.

  Income Effect is the term used for a change in the amount of a product that a consumer will buy because the purchasing power of his or her income changes – even though the income itself does not change.

  Substitution effect is the pattern of behavior that occurs when consumers react to a change in the price of a good or service by buying a substitute product – one whose price has not changed and that offers a better relative value.

  2.2 Law of Diminishing Marginal Utility

  Can be stated as the more a specific product consumer obtain, the less they will want more units of the same product.

  Utility is want-satisfying power - it is the satisfaction or pleasure one gets from consuming a good or service.

  Total Utility is the total amount of satisfaction or pleasure a person derives from consuming some quantity.

  Marginal Utility is the additional utility you get from the consumption of an additional unit of that product.

  Figure 2.4

AP微观经济学Markets&Prices

  Total Utility increases at a diminishing rate, reaches a maximum and then declines.

AP微观经济学Markets&Prices

  Marginal Utility diminishes with increased consumption, becomes zero when total utility is at a maximum, and is negative when total utility declines.

  From the graphs above, we can conclude that when total utility is at its peak, marginal utility is below zero. Marginal utility reflects the change in total utility so it is negative when total utility declines.

  3. Theory of Consumer Behavior

  3.1 Consumer Choice and Budget Restraints

  Rational Behavior - derive the greatest satisfaction

  Preferences - based on marginal utility

  Budget Restraints - money income is limited

  Prices - signal scarcity, consumer must compromise

  3.2 Utility-Maximizing Rule

  The consumer's money income should be allocated so that the last dollar spent on each product purchased yields the same amount of marginal utility.

  The rational consumer must compare the extra utility with its added cost.

  For example,

  Utility-Maximizing with Income of $10

(三立在线AP课程包括:AP生物、AP美国历史、AP计算机、AP心理学、AP欧洲史、AP化学、AP英美文学、AP微积分、AP物理、AP化学等。AP师资团队全部是由顶尖名校毕业、且AP教学时长在3000个小时以上的教师亲授课程。授课方式:一对一全程名师督导备考陪同,量身定制互动直播授课,点题讲题破题一步到位,反复实战演练,助力AP考生备考冲刺5分。)
咨询课程顾问,免费领取全套AP考试指南和真题学习资料。
三立在线针对2018年的AP考试,开设“AP基础课程、强化课程、刷题模考课程、冲刺课程”。想快速提分的同学可以在线咨询客服,了解课程详情,预约名师1V1试听课;为你量身打造专属AP学习方案;即可免费领取AP考试学习资料/视频课件/直播公开课/AP模考题库/AP报考白皮书!

AP微观经济学Markets&Prices(一)

评论(0)

×
咨询热线
AP考试贴士 12月有 0 场AP考试
Sun Mon Tue Wed Thu Fri Sat
考试小帮手
AP名师直通车
  • 孙中秋 国内最早一批SAT名师
    8年+教学经验
    中国地质大学硕士
    预约名师
    黄茜子 托福、AP、IB高分名师
    2年+教学经验
    加拿大渥太华大学硕士
    预约名师
    陈丽 托福、GRE高分名师
    5年+教学经验
    美研精英计划规划师
    预约名师
    沈虹余 ACT、SAT2名师
    3年+教学经验
    美国凯斯西储大学硕士
    预约名师
    丁维 托福高分名师
    5年+教学经验
    上海对外贸易大学硕士
    预约名师
  • 李现伟 三立在线创始人 CEO
    10年+教学经验
    国内权威全科教学专家
    预约名师
    关梦瑶 SAT、AP名师
    3年+教学经验
    新加坡国立大学硕士
    预约名师
    范志文 SSAT、SAT、SAT2名师
    4年+教学经验
    东华大学工科硕士
    预约名师
加入AP学习圈
AP学习圈
嗨词APP: iOS版下载 嗨词APP-iOS版下载 Android版下载 嗨词APP-Android版下载
进AP答疑群,请加助教老师微信: anne020508