AP微观经济学 第五单元 资源(要素)市场 知识点总结课件 AP Microeconomics Unit 5 Summary.pptVIP

Why is Globalization Happening? Globalization is the result of firms seeking lowest costs. Firms are seeking greater profits. Parts are made in China because labor in significantly cheaper. What is Outsourcing? Outsourcing is when firms send jobs overseas. What types of jobs are outsourced? For many years it was only unskilled jobs, but now other skilled jobs are sent overseas. Advantages and Disadvantages Disadvantages Increases U.S. unemployment Less US tax revenue generated from workers and corporations means less public benefits Foreign workers don’t receive same protections as US workers Advantages Lowers prices for nearly all goods and services Decreases world unemployment Improves quality of life and decreases poverty in less developed countries $200 $50 $200 (Up to the amount he generates) $50 (The wage set by the market) 3 apples and 2 oranges Drawing the Demand Curve for Resources * Units of Labor Total Product (Output) Use the following data: 0 1 2 3 4 5 6 7 0 7 17 24 27 29 30 27 Wage = $20 Price = $10 Marginal Product (MP) - 7 10 7 3 2 1 -3 Product Price 0 10 10 10 10 10 10 10 Additional Revenue per worker 0 70 100 70 30 20 10 -30 Additional Cost per worker 0 20 20 20 20 20 20 20 How would this change if the demand for the good increased significantly? Price of the good would increase. Value of each worker would increase. * Units of Labor Total Product (Output) Use the following data: 0 1 2 3 4 5 6 7 0 7 17 24 27 29 30 27 Wage = $20 Price = $100 Marginal Product (MP) - 7 10 7 3 2 1 -3 Product Price 0 100 100 100 100 100 100 100 Additional Revenue per worker * Units of Labor Total Product (Output) Use the following data: 0 1 2 3 4 5 6 7 0 7 17 24 27 29 30 27 Wage = $20 Price = $100 Marginal Product (MP) - 7 10 7 3 2 1 -3 Product Price 0 100 100 100 100 100 100 100 Additional Revenue per worker 0 700 1000 700 300 200 100 -300 Each worker is worth more!! THIS IS DERIVED DEMAND. * Units of Labor T