微观和宏观经济学 Micro Macro Economics【国外优秀商务ppt模板精品】.pptx

Economics 101 Micro Macro Economics Rahul Reddy Economics is the science of the optimum or best utilization of economic resourcesMicroeconomics BasicsSome definitionsDemand SupplyConsumerCustomerComplementary GoodSubstitute GoodSome definitionsDemand SupplyConsumer CustomerComplementary GoodSubstitute GoodSome definitionsDemand Demand is the want or desire to possess an economic good, backed by the necessary financial capability to buy that good, at a given price. Some definitionsDemand SupplyConsumer CustomerComplementary GoodSubstitute GoodSome definitionsSupply Supply is the total quantity of an economic good that is available for purchase at a given price Some definitionsDemand SupplyConsumer CustomerComplementary GoodSubstitute GoodSome definitionsConsumer An individual who acquires an economic good for direct use or ownership and not for resale or use in production of some other economic good Some definitionsDemand SupplyConsumer CustomerComplementary GoodSubstitute GoodSome definitionsCustomer An individual who purchases an economic good for self or on behalf of the consumer. A customer may be different from the consumer, eg:Government purchasing oil from the OPEC for consumption by the populationParents purchasing baby food for consumption by the infant Some definitionsDemand SupplyConsumer CustomerComplementary GoodSubstitute GoodSome definitionsComplementary good An economic good which is usually used along with another good ExamplesTea: milk, sugarPen: ink, paperSome definitionsDemand SupplyConsumer CustomerComplementary GoodSubstitute GoodSome definitionsSubstitute good An economic good which is usually used in place of another good ExamplesTea: coffee, cold drinksPen: pencil, crayon, brush Marginal UtilityMarginal utility of water?The utility, and therefore demand, of every incremental unit of water diminishes Price equals marginal utility If price reduces, demand increasesLaw of demandThe higher the price of an economic good, the lower is its quanti