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  • 整理笔记2

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    The document discusses demand and supply, including definitions of extensions, contractions, increases and decreases in both demand and supply. It defines equilibrium as the price and quantity where demand equals supply. When demand and supply are not equal there is a disequilibrium which can result in a shortage or surplus. The document includes diagrams to illustrate the different scenarios and defines key economic terms related to demand, supply, and equilibrium.

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    The document discusses demand and supply, including definitions of extensions, contractions, increases and decreases in both demand and supply. It defines equilibrium as the price and quantity where demand equals supply. When demand and supply are not equal there is a disequilibrium which can result in a shortage or surplus. The document includes diagrams to illustrate the different scenarios and defines key economic terms related to demand, supply, and equilibrium.

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    © All Rights Reserved
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    5 views5 pages

    整理笔记2

    Uploaded by

    Joycee
    The document discusses demand and supply, including definitions of extensions, contractions, increases and decreases in both demand and supply. It defines equilibrium as the price and quantity where demand equals supply. When demand and supply are not equal there is a disequilibrium which can result in a shortage or surplus. The document includes diagrams to illustrate the different scenarios and defines key economic terms related to demand, supply, and equilibrium.

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    © All Rights Reserved
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    of 5

    Demand and Supply

    (chapter 7-10)

    1. Demand

     An extension in demand:
    Definition:
    Reason:
    Diagram:

     A contraction in demand:

    Definition:
    Reason:
    Diagram:

     An increase in demand:

    Definition:
    Reason:
    Diagram:

     A decrease in demand:
    Definition:
    Reason:
    Diagram:
    2. Supply

     An extension in supply:
    Definition:
    Reason:
    Diagram:

     A contraction in supply:
    Definition:
    Reason:
    Diagram:

     An increase in supply:
    Definition:
    Reason:
    Diagram:

     A decrease in supply:
    Definition:
    Reason:
    Diagram:
    3. Equilibrium price

    Equilibrium:_____________________________________________________
    Equilibrium price: _____________________________________________________
    Equilibrium quantity: _____________________________________________________
    Disequilibrium: _____________________________________________________
    Disequilibrium including two situations: 1______________________2_______________________
    Diagram of a shortage: diagram of a surplus:

    Demand Supply Equilibrium Equilibrium


    price quantity
    ↑ --

    ↓ --
    -- ↑
    -- ↓

    ↑ ↑

    ↓ ↓

    ↑ ↓

    ↓ ↑

    Economic words (chapter 7-10)

    equilibrium 均衡
    disequilibrium 不均衡
    demand v.n. 需求
    supply v.n. 供给
    *inversely related/ negative related/ indirectly related 反相关
    *directly related/ positive related 正相关
    afford v. 支付得起
    willing 愿意的 willingness n. 意愿
    able 有能力的 ability n. 能力
    *curve 曲线
    *Schedule n. 计划表 时间表
    extension n.扩张 extend v.
    contraction n.收缩 contract v.
    surplus n.过剩 = excess supply
    shortage n.短缺 = excess demand
    disposable income 可支配收入
    substitute 替代品
    complement 互补品
    advertise v. 广告 advertisement n.
    interest rate 利率
    taste n. 品味
    fashion n. 时尚
    expectation n. 期望
    preference n. 喜好
    discovery n. 发现
    depletion n. 耗尽
    initially 初始地 initial 初始的
    fluctuate v. 波动 fluctuation n.
    cost of production 生产成本
    improvement/advances in technology 科技提高
    raw material 原材料
    subsidy n. v. 补贴 grant subsidies 发补贴
    tax n. v. 税 impose/levy tax 收税
    price mechanism 价格机制
    weather condition 天气状况

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