MICROECONOMICS

04/26/2023
Ceteris Paribus  It is the factor of production or the means
of production
- All other things are constant or equal
 It has a part
Law of Demand

- States the higher the price the higher the

 Revenue
quantity demanded; all other things
- a sales
constant or equal.(ito yung mga factors
 Cost of Production
na affect demand) (Kasi pag tumaas ang
- Gastos ng producer papunta sa consumer
income tataas ang demand)
 Expensse
- Price is something constant or equal.
- Gastos ng consumer papuntang producer.
 Income Payment
- Tawag pag pumsok ang payment ng
INTRO ECON (CHAP 2 The Market
producer sa consumer
Mechanism)
 Goods Market
2 BRANCHEDS OF ECONOMICS - Exchane goods/product
- Ang supplier ay producer and nag
1. Microeconomics
dedemand consumer.
- Branch of economics that study smaller
 Resource/Factor Market
unit or individual unit in economy.
- Ang SUPPLIER ay consumer at ang nag
2. Macroeconomics
dedemand ng CONSUMER
- We talked about one particular industry.

DOMESTIC PRODUCT
TWO (2) KINDS OF MARKET
- The total output producing that economy
1. Good Market
ECONOMIC GOODS
2. Resource/Factor Market
- are goods that command price; we
cannot take it in the market for free; so
we need to pay for.  Market - is where there is BUYER and
SELLER which having transaction.
FREE GOODS
o Buyer - is the one who willing and
- Ex. The air we breath able to buy.
o Demand – tooking the buyer, kasi
INPUTS
ang nagdedemand ay ang buyer
- Necessary things in order to produce a o Seller - the one who are willing
shoes and able to sell
o Transaction – exchange of goods/
INPUTS CLASSIFIED INTO 4
products; starts with talking and
 Land asking how much?
 Labor
 Capital LAW OF DEMAND
 Entrepreneur
 So ito yung mga resources.. - Taling about the buyer; and the buyer
would like lower prices
 MICROECONOMICS
04/26/2023
- Mababa ang presyo bibili ka ng marami or
ALL OTHER THINS ARE CONSTANT OR
EQUAL.
- Seller would like higher prices
- Transction would take it if the buyers and
seller agreed with the price..which
considered as EQUILIBRIUM PRICE or
MARKET PRICE the price agreed by the
buyer and the seller; kay nagkaroon ng
market pero kung ikaw ay umalis at hindi
bumili walang MARKET because you don’t
have transaction.
1. MARKET MECHANISM
- Talks how market build/ establish up..
- Kapag ang gobyerno ay nakiaalam;
syempre ang market aay madedestroy;
SO SINO MAGDEDETERMINE NG PRICES
SA MARKET? The govermet declares the
price control and price ceiling. Kaya kapag
ang gobyerno ang nakikiaalam ANO ANG
DAPAT IPRODUCE?
- Ang nag dedetermine ng what to
produce; how to produce ad for whom to
produce is the market system SO PANO
ANG MARKET SYSTEM? Titignnan kung
anong produkto ang Malaki ang kita; kasi
we are operating for profit; PERO PAG
GOVERNMENT titignan nila kung ano
Maganda para sa mga tao hindi ano
Maganda kita.. (SO SA GOVERNMENT ITO
AY COMMAND SYSTEM)
- GAANO KALAKI YUNG PAGBABAGO NG
DEMAND DUE CHANGES IN THE PRICE so
depende if elastic or elastic monetary
2. THEORY OF CONSUMER BEHAVIOR
- Pagkatapos mo bilihin yung produkto,
icoconsume na yung product.
 So ito yung paano ba ang behavior ng
consumer towards sa consumption.
3. THEORY OF PRODUCTION and THEORY
OF COST
4. WHAT ARE THE DIFFERENT MARKET
STRACTURES
o Pure competition
o Pure oligopoly
o Pure monoly
o Pure monopolistic
 So pano sila nag didctate ng price
 The most stable in the equilibrium is the
MARKET PRICE
COST ELASTICITY OF DEMAND
- It is due to a change in the price of other
goods; it can be substitute or
complimentary goods..
MONOXOMY - isa lan ang bibili; like example
sa vaccine government lang nabibili

 MIX ECONOMY
- Created of government which conceived
of PRIVATE SECTOR, GOVERNMENT
INTERVENTION; ito yung mix economy

 ELASTICITY
- How do quatity Demad and quantity
supply, response to changes in price.