- •Types of goods and products.
- •Classification of products:
- •The concept of production possibility curve.
- •The concept of specification of property rights.
- •The stages in history of economics.
- •Demand and supply law, effects and exceptions.
- •Walrasian equilibrium, Cobweb theorem, and intermarket equilibrium.
- •The concept of elasticity.
- •Peculiarities of land and labor markets.
- •Two theories which explain nature of interest.
- •How to determine market structure.
- •Pricing in oligopoly and monopoly.
- •3 Levels of price discrimination:
Hope you’ll get 30 points;)
With love, Aliya.
Types of goods and products.
Good – is a means to satisfy a need. Goods can be:
Economic and nit-economic – existence limit the quantity. (unlimit)
Production and consumer – are used ti create consumers; are final goods.
Private and public – are used by who pays; are used by all.
Merit and demerit – are those goods which are always insufficient (недостаточно).
which are always sufficient.
Product – is everything that can be supplied at the market to be used or consumed satisfying a particular need or a want. Products can be:
Non-durable-не долгосрочный-can be used for countable number of time.
Durable-долгосрочный.
Classification of products:
Consumer products-потребительские товары.
convenience products-товары повседневного спроса(хлеб, газеты).
shopping products-товары предварительного выбора(с торг. марками).
specialty products-товары особого спроса(потратить усилия, чтобы найти).
unsought products-товары пассивного спроса.
Industrial products-товары производства.
materials and parts-резина, шины.
capital item-капитальное оборудование.
suppliers and services-вспомогательные(краска, гвозди).
All needs can be satisfied by goods. All goods are created with the help of resources.
The concept of production possibility curve.
Opportunities |
Butter |
Cannons |
Opportunity cost |
A |
0 |
15 |
- |
B |
1 |
14 |
1 |
C |
2 |
12 |
2 |
D |
3 |
9 |
3 |
E |
4 |
5 |
4 |
F |
5 |
0 |
5 |
Крива́я произво́дственных возмо́жностей — это кривая, которая показывает максимально возможные объемы производства каждого продукта при неизменных ресурсах и технологиях.
Для ее построения первоначально определяют максимально возможные объемы производства каждой категории товаров при заданном объеме производства другой категории. Поскольку для производства всех благ используются одни и те же ресурсы, то при увеличении производств одной категории объем производства другой либо уменьшается, либо остается без изменения, значит кривая будет иметь возрастающий характер.
The concept of specification of property rights.
Specification – means that particular rights are linked to one or several proprietors.
Types of ownership include:
Private
State-owned
Communal
Common
!!!There should be exclusions from access. Property belongs to no one or everyone and can be exhausted; that's why the property should be satisfied by everyone.