principles of marketing 14th edition ppt

Ngày tải lên: 15/08/2013, 14:26

Ngày tải lên: 17/08/2013, 09:20

... I’ll produce 24 pounds of meat and 2 pounds of potatoes. After I give you 3 pounds of meat in exchange for 1 pound of potatoes, I’ll have 21 pounds of meat and 3 pounds of potatoes. In the end, ... the various mixes of output that an economy can produce. It illustrates one of the Ten Principles of Economics in Chapter 1: People face tradeoffs. Here the farmer faces a tradeoff between produc- ing ... easier to see in the case of babies and mini- vans. Couples often buy a minivan in anticipation of the birth of a child. The Violent Crimes (per 1,000 people) Police Officers (per 1,000 people) 0 Figure...

Ngày tải lên: 15/12/2013, 11:15

... sum of all the individual demands for a particular good or service. Catherine’s Demand Price of Ice-Cream Cone Price of Ice-Cream Cone Nicholas’s Demand 0 1 2 3 4 5 6 7 8 9 10 11 12 Quantity of Ice-Cream ... competitive? DEMAND We begin our study of markets by examining the behavior of buyers. Here we con- sider what determines the quantity demanded of any good, which is the amount of the good that buyers are ... QUIZ: List the determinants of the quantity of pizza you demand. ◆ Make up an example of a demand schedule for pizza, and graph the implied demand curve. ◆ Give an example of something that would...

Ngày tải lên: 15/12/2013, 11:15

... percentage change in the price of the second good price elasticity of supply a measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the ... either of these sets of data, the statisticians would need to take account of other factors that affect attendance— weather, population, size of collection, and so forth—to isolate the effect of price. ... low. The Cross-Price Elasticity of Demand Economists use the cross- price elasticity of demand to measure how the quantity demanded of one good changes as the price of another good changes. It is...

Ngày tải lên: 15/12/2013, 11:15

... economy’s production of goods and services. Although some degree of unemployment is inevitable in a complex economy with thousands of firms and millions of workers, the amount of unemployment varies substantially ... the typical spell of unemployment lasts. HOW IS UNEMPLOYMENT MEASURED? Measuring unemployment is the job of the Bureau of Labor Statistics (BLS), which is part of the Department of Labor. Every ... would adjust to balance the quantity of labor supplied and the quantity of labor de- manded. This adjustment of wages would ensure that all workers are always fully employed. Of course, reality does not...

Ngày tải lên: 15/12/2013, 11:15

... diagram of the labor market, show the effect of an increase in the minimum wage on the wage paid to workers, the number of workers supplied, the number of workers demanded, and the amount of unemployment. 7. ... surplus of workers, it might seem profitable to reduce the wage it is offering. But by reducing the wage, the firm induces an adverse change in the mix of workers. In this case, at a wage of $10, ... variety of interesting problems for eco- nomic theory. Some of these problems were highlighted in our description of the theory of efficiency wages. These prob- lems, however, go beyond the study of...

Ngày tải lên: 15/12/2013, 11:15

... shows the quantity of money in the economy and an index of the price level. The slope of the money line represents the rate at which the quantity of money was growing, and the slope of the price line ... velocity of money, we divide the nominal value of output (nominal GDP) by the quantity of money. If P is the price level (the GDP deflator), Y the quantity of output (real GDP), and M the quantity of ... quantity of money (M) times the velocity of money (V) equals the price of output (P) times the amount of output (Y). It is called the quantity equation because it relates the quantity of money...

Ngày tải lên: 15/12/2013, 11:15

... outcomes: efficiency the property of a resource allocation of maximizing the total surplus received by all members of society equity the fairness of the distribution of well-being among the members of society CHAPTER ... the producer surplus of all sellers. Quantity of Houses Painted Quantity of Houses Painted Price of House Painting 500 800 $900 0 Supply 600 1234 (b) Price = $800 Price of House Painting 500 800 $900 0 600 1234 (a) ... composed of two parts. First, those buy- ers who were already buying Q 1 of the good at the higher price P 1 are better off be- cause they now pay less. The increase in consumer surplus of existing...

Ngày tải lên: 24/12/2013, 17:15

... result of a triangle depends on the square of its size. If we double the size of a tax, for instance, the base and height of the triangle double, so the deadweight loss rises by a factor of 4. ... raw land. Yet the value of land often comes from improvements, such as clearing trees, providing sewers, and building roads. Unlike the supply of raw land, the supply of improvements has an elasticity ... the wage they can earn legally. In each of these cases, the quantity of labor supplied responds to the wage (the price of labor). Thus, the decisions of these workers are distorted when their...

Ngày tải lên: 24/12/2013, 17:15

... importer of a good, domestic consumers of the good are better off, and domestic producers of the good are worse off. ◆ Trade raises the economic well-being of a nation in the sense that the gains of the ... the losses of the losers. Now that we have completed our analysis of trade, we can better understand one of the Ten Principles of Economics in Chapter 1: Trade can make everyone better off. If Isoland ... WELFARE ◆ Trade raises the economic well-being of a nation in the sense that the gains of the winners exceed the losses of the losers. THE GAINS AND LOSSES OF AN IMPORTING COUNTRY Now suppose that...

Ngày tải lên: 24/12/2013, 17:15

... good are better off, and consumers of the good are worse off. When a country allows trade and becomes an importer of a good, consumers are better off, and producers are worse off. In both cases, ... the export of steel by paying a certain amount for each ton sold abroad. How does this export subsidy affect the domestic price of steel, the quantity of steel produced, the quantity of steel consumed, ... to a softening of protectionist attitudes in the European Union and Japan. These developed economies are now moving steadily in the direction of openness and competition—not be- cause any officials...

Ngày tải lên: 24/12/2013, 17:15

... number of cars that can be supported without pollution outside of the central city and auctions off the rights to license new cars each month. Different types of plates allow different degrees of ... generosity of others. In this case, taxing the wealthy to raise the living standards of the poor can make everyone better off. The poor are better off because they now enjoy a higher stan- dard of living, ... knowledge, such as the invention of a better battery, can be patented. The inventor thus obtains much of the benefit of his invention, although certainly not all of it. By contrast, a mathematician...

Ngày tải lên: 24/12/2013, 17:15

... or her income level. For example, a taxpayer with income of $50,000 pays 15 percent of the first $25,750 of income, and then 28 percent of the rest. O N T AXABLE I NCOME . . . T HE T AX R ATE I S . ... WILL . . . Consider the tradeoff between efficiency and equity in the design of a tax system Learn alternative ways to judge the equity of a tax system Get an overview of how the U.S. government ... of health care has risen more rapidly than the cost of other goods and services. The rapid growth of this budget item is one reason that Presi- dent Clinton and others have proposed reforms of...

Ngày tải lên: 24/12/2013, 17:15

... could buy coffee in Seattle for, say, $4 a pound and then sell it in Boston for $5 a pound, mak- ing a profit of $1 per pound from the difference in price. The process of taking ad- vantage of differences ... States, traders could buy coffee in Japan and sell it in the United States. This import of coffee into the United States from Japan would drive down the U.S. price of coffee and drive up the Japanese ... our example, as people took advantage of this arbitrage opportunity, they would in- crease the demand for coffee in Seattle and increase the supply in Boston. The price of coffee would rise in Seattle...

Ngày tải lên: 24/12/2013, 17:15

Ngày tải lên: 24/12/2013, 17:15