AP Microeconomics – Chapter 3 Outline I. Learning Objectives – In this chapter students should learn: A. What demand is and how it can change. B. What supply is and how it can change. C. How supply and demand interact to determine market equilibrium. D. How changes in supply and demand affect equilibrium prices and quantities. E. What government‐set prices are and how they can cause product surpluses and shortages. II. Markets A. A market‚ as introduced in Chapter 2
Premium Supply and demand
11 Pure Competition in the Short Run McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies‚ Inc. All rights reserved. Four Market Models • Pure competition • Pure monopoly • Monopolistic competition • Oligopoly Pure Competition Monopolistic Competition Oligopoly Pure Monopoly Market Structure Continuum LO1 Four Market Models Characteristics of the Four Basic Market Models Pure Characteristic Competition Monopolistic Competition Oligopoly Monopoly Number of firms A very large
Premium Costs Monopoly Economics
Question 1. Comment on the micro and market environments of Pick n Pay and also comment on the macro environments that may affect the company in 2014. Pick n Pay. Micro environment: The micro environment is the smallest of the three environments. This is the environment that is influenced by the market and the macro environments. Pick n Pay can control their beliefs and visions in such a way that customers become used to the way they operate. Some of their values include: honesty‚ integrity
Premium Environment Natural environment Vegetable
---------------------------------------------- ECONOMICAL ------------------------------------------- SOCIAL ------------------------------------------------- TECHONOLGICAL---------------------------------------- ENVIRONMENTAL---------------------------------------- MICRO ENVIRONMENT SUPPLIERS---------------------------------------------- INTERMEDIARIES---------------------------------------- FINANCIAL----------------------------------------------- GOVERNMENT-------------------------------------------- THE COMPANY-------------------------------------------
Premium Supermarket Grocery store Retailing
A Study of Rationales and Interventions of Tardiness in A Public School in South Eastern North Carolina “School A” is a high poverty school located in Fayetteville‚ North Carolina. The school was built in 1959‚ and has a population of 193 students. The students that attend this elementary school are primarily black‚ and 80% of these students receive free or reduced breakfast and lunch. There are 13 teachers employed at the school. Two of the teachers are first year teachers‚ and the other 11 are
Premium Education High school Teacher
The major issue presented by the case is MPEPD growth . Contemplate it Analysis * The main causes are‚ They are not developing products fast enough. Each functional team independently judging the viability of the product. The status of the project was never clear cut. * Different departments have different goals. Plant Managers are looking in gross margins. Sales departments focused exclusively on volume with no concern for gross margin * The lack of co operation and dis
Premium Sales Marketing Management
Bryce Leilo ECO211-002 Paper 2 16 February 2015 Is Globalization the Issue‚ or the Solution? The question that keeps the public in a constant frenzy and the big chairs at Capitol Hill jumping is the matter of the United States and her future endeavors economically. There is one issue that has really sparked an interest in the 21st century‚ and that is the redeployment of jobs overseas‚ in other words the globalization of the United States. Now we all hold our own opinions and are entitled to just
Premium International trade Economics
Michael Porter’s five forces Analysis Rivalry among competitors The Indian Telecom industry is comprised of three types of players. The State owned companies‚ private companies and foreign invested companies. Main State owned companies are BSNL and MTNL. Major private Indian owned companies include Tata teleservice‚ Tata Communications‚ Reliance communications. And finally‚ the major foreign invested companies in this sector are Vodafone‚ Idea cellular‚ Bharti Airtel Limited. BSNL Bharath Sanchar
Premium Mobile phone companies of India Tata Group Companies based in Mumbai
The 4 Traps: 1. Conflict Causes Low income Slow growth‚ stagnation‚ or even decline Dependence on primary commodity exports (oil‚ diamonds) Geography (huge with dispersed population‚ mountainous‚ Nepal is a good example) Prior history Costs/Consequences Lasts more than 5 years‚ on average 15% poorer Military spending - $64 billion Social costs: Deaths Diseases Deterioration in political rights Legacy of organized killing - cheap guns‚ number of homicides Refugees → costs beyond frontiers (epidemics
Premium Poverty Microfinance Economics
Unit 3 Assignment: Problem 1 and 2 Name: David Cortese Course Number: - Section Number: - Unit Number: - 3 Date: September 2‚ 2013 Problem 1: Suppose that the supply schedule of Belgium Cocoa beans is as follows: Suppose that Belgium cocoa beans can be sold only in Europe. The European demand schedule for Belgium cocoa beans is as follows: |Price of Belgium cocoa beans |European Quantity of Belgium cocoa beans demanded | |(per
Premium