Econ. Nov. 6 by Peter Melkonian

1 of 16

Slide Notes

Econ. Nov. 6

Published on Nov 22, 2015

No Description

View Outline

PRESENTATION OUTLINE

determining price

mr. melkonian

Photo by sjrankin

Now that we understand supply/demand...

Photo by Susan of Mad In Pursuit

analyze how price is set

in a competitive market

Photo by thelearningcurvedotca

competitive market

has some important characteristics

Photo by marcp_dmoz

many producers

no one alone is dominating the market

Photo by CIMMYT

many buyers

no one big enough to dictate price

Photo by @giovanni

seller's product exactly the same

no seller can raise price based on quality

Photo by Zebra Pares

all sellers/buyers know prices/conditions are

throughout entire market, eliminating price differences

Photo by Stephane Rossignol

pure (perfect) competition

10.

doesn't really happen all the time...

good to grasp economic concepts though

11.

pancakes

let's see possible ways demand/supply can affect it

Photo by Chris Barber

12.

increase in demand...

shortage =price increases

Photo by Michele Hubacek

13.

decrease in demand

surplus = price drops

Photo by startcooking kathy & amandine

14.

increase in supply

surplus =price drops

Photo by ratexla

15.

decrease in supply

shortage =price increases

Photo by 427

16.

pg 90

questions 1 and 2 - finish and take up today!

Photo by Oberazzi

Slide Notes

Econ. Nov. 6

MORE DECKS TO EXPLORE

7 Strategies to Write a Speech with Ease

WHY WORK WITH ME?

Techno Teaching

Dance at Work

Key Ecommerce Questions

Brand name development using the FREE PIZZA method (a bad idea)