Core-008 Market Forces - Demand & Supply for Producer Behavior
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About Core-008 Market Forces - Demand & Supply for Producer Behavior
About the Teacher
Jay Moulton
Jay Moulton is a business veteran. In short:
- Corporate finance and turnaround expert in U.S. and Canada
- CEO or operator of numerous companies in many industries
- 30 years of actually applying business economics principles
- Successfully led and invested in several leveraged buyouts
- Director or advisor to 30+ different companies
- Experience in both for-profit and not-for-profit sectors
- Producer of 700 professional videos and several TV shows
- Author of six economics and business strategy books
- Graduate of Harvard Business School MBA program
- Graduate of The Royal Military College of Canada
- Professional electrical engineer
- Governor of the Harvard Club of British Columbia
Market Forces - Demand
MODULE 1
A market is a place where a group of buyers and sellers of a good or service interacts. The buyer group determines demand for the good or service and the seller group determines supply of the good or service. The interaction of supply and demand determines market pricing in a competitive market.
Demand Curve
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Learning objectives for Demand Curve
As prices decline, quantity demanded rises, meaning that you move along the demand curve downwards and to the right.
The law of demand states that the quantity of a commodity demanded varies negatively with a change in its price, other factors remaining constant.
The law of demand states that the quantity of a commodity demanded varies negatively with a change in its price, other things remaining constant.
Demand Curve Shifts
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Learning objectives for Demand Curve Shifts
An increase in demand is shown by shifting the entire demand curve to the right.
A decrease in demand is shown by shifting the entire demand curve to the left.
If demand for a good increases, the demand curve shifts right. If demand for a good decreases, the demand curve shifts to the left.
In this lesson, we review the concept of how the number of buyers increases demand.
In this lesson, we review the concept of how expectations can shift demand.
The video describes movement up and down the demand curve, the law of demand, and a few examples of increase and decrease in demand. The demand curve shifts when relevant variables, other than the two variables being plotted on the axes, change.
Giffen Goods
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In this lesson, we explore Giffen Goods using rice consumption as an example.
The video explains Giffen goods using people's rice consumption as an example. When prices rise, demand can actually rise at the same time.
In this lesson, we review the concept of Giffen Goods.
Market Forces - Supply
MODULE 2
A market is a place where a group of buyers and sellers of a good or service interacts. The buyer group determines demand for the good or service and the seller group determines supply of the good or service. The interaction of supply and demand determines market pricing in a competitive market.
Supply
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Learning objectives for the supply curve.
According to the law of supply, an increase in price increases the quantity supplied – meaning that you move up and to the right on the curve.
An increase in supply is shown by shifting the entire supply curve to the right.
The Law of Supply states, that all other things being equal, when prices rise, quantity supplied rises and when prices fall, quantity supplied falls.
A decrease in supply is shown by shifting the entire supply curve to the left.
Variables That Cause Supply Curve Shifts
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Learning objectives for Variables That Cause Supply Curve Shifts.
An increase in the price of the inputs used to make a product would decrease the supply and shift the supply curve to the left.
In this video, we explore how input prices can shift supply curves.
The video describes movement up and down the supply curve, the law of supply, and a few examples of increase and decrease in supply. The supply curve shifts when relevant variables, other than the two variables being plotted on the axes, change.
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