UNIT 3. ~ nae Cal date Demand (PED) nce ehast city SRA RUSLAN joo (ucome Clas ( Gyosg_choaticily 6 x (ken y Demands tb fs a 2 msetane, obsess ate ta shad ee Ce. if at pl YA cea Tote: Minus LA io P SiN vERY IMP. IT ioe § Ps Tost S Hows Ni alivEoe Pez _|d Go !0d ELATION Bf) P & | op Q_= &p- \ Qh. A btn QD = St0- Moo « ino 7 Ba + hon leeo 8 2-c0% | 4b fm Ps a- 10 ame 1 a4. G wntbou Elastic ys PiVi9ViGVdad9 ng yolued Ped e- y t — 7 >-P . elo ein ne Denanel Peahistit.oy + Dep 2-4 2 hwtoabte | Nea- Lesboustae_d Jovan yl eps -t Bea Bate | cum ZL fy § Ri) A Ah a oo "ata, Hd ieae e an Scanned with CamScannerlwctache Demand « <4. Pafectl Bashi 2 co _| > Do ppl, A eee ovbienate, "yt an Salsas tn QD: Po : Scanned with CamScanner' - E Lactate o8 a i 5 Pep. a > ry Supebitwbes then elas be mond tecause a chetce _& they are ‘Rice. - , Seine, ose fie tus then inclastic demand e Ve Mone fess chee 9 ars. mice 2 ic > Oran Logon Ty No cous omen _ Leyouty Necessities ¢ | bw cam be. | — Neceuibies > Inelastic ee = & Paverase- cannot be. delayext. = = © Preepos Won , Buslget penton the Cred t eo i >I) the “preeluct tahes oo big on prepoution $ = _ buslget_—> > hiisher _praie on bia Bi bane ya Aashic demand - oe oa ~ _ > lh the preduct tones a Small prepevtien of es budge et _- Peuren price gers truly hence indlastre a Aewrourcct —s a ~ ss 7 @ Tine _pouied s _ «i SI shart tum oa pace. hawge doe, not oct. Gena ty much ag people vent _viwawane Scanned with CamScanner) ~ ~ > ~ ane Change + In ( 5 about “prce. Ie benand _becowus los ie 5 S: Bapeie woot _is_meamt_by PED flay Some, 5 ess oI 8 3 Scanned with CamScannerrf 23-10-19. | ee ene phat g meant by PED & shy. gome goods —frawe Bala t_domannd_2_CB)———_—____, ont Rin SG oe CD Es mate meaiote dh by th f el 7 sormrho._{ perce le On oe isms . f _([pescenings change a of geod bill haw elastic demon ‘ aD gests ts en meaning that s sa chow “ff wolity Dank haemaded as heugial Ao Ch ouarge ia Ou k | Bad od wall ode on eth Clenarel Arles Lic Yess rom = 1 meantng theta cho 7 in_ price, ont ge bought tay Sno etn rout Demanded: i. [6h jc Rand to howe dn_tnelastticdemamd.., || Wreses cam be the eat With velabicly very feu dectitWler. poe y a 5 or Lin Ae Market stn such corer then the preddcl ic very fqua_ond howe Inoue Less © eeple. tau | ess Onefte onc hurce ares : Senctbivee is_1S why Ja-chamge—tnpmice it the price. eth _going 2 Sb cna Causes rela tively Smolen. chomge tn Qucuatity_f emonded = E ie Feavewenrs: fess || Haat haus sec —daing brs Kd_Image. Py 2 | out ota “ih ‘cond _ Ch nome \overnd_fina.ge oem 2 spi o_o yal costumers who keke ow a ) buying their prectucls en nail toy waise prices «This» te foe deme aac) 2G faetashic._on | CONC wenY, Veeple To “Slarlt thuike_cemarad Ta_oilor ey i uclS eve Awe_puter one worked ~pesples—badljet feud to oweclastit_denand badla poe eae Si Demand ure elaslici _Vedlucer | \ sper Lonitony) Se tl ecu [{ Sp aga nh obo cet ei ot aaa \ NA dd Md 4 } so Oheud yasse ‘the prices v ~¥. Ped te cepeliaesan N) Godot coun, ei oe Paduivect “Tom Bevernng ih ey Be UAE Tours e+ “4 faded Tax wr rele p product thetagtic _e- 4 of lames Als ae eae amen pitt nice. a wer cougymore’ Ast vLaluce tmokiin gl Cousymphion eee nas_efash'c cur (Wore cee a ml cornea reduce QD by. ou quealey_/1 _ompare ct with me _m'ge_- Forwenwug qe oy | J you. Diol, Most wlth Inulastic demand fer dowwrit: 6 5S vt Ging thar consumpettoin will be met buy bowing. | © > Alco indlactt demand ~ ati) wii Tan remenels| butt ip mwas a necessity tle burden on poate Chang will roe. CJ” PPL LLY | EET \ Idd 4 4 4 $ JD put. con also eshimate. the offec hones’ sp subemh'et 2 Fis Mos uals alate, tation che Scanned with CamScanner “xi in TT Tg a it sy ee Hastie 5 sual ___ {dy_—wolatcle LOWE. a fa in pyce. — Buses on oo Toueasteg He Consonp hoit was _thetas hy = fe nest Gendt a i. ol Teh howd be regu _LIMITATONS oF PeDs- Ear O= Pep keeps changing wan Kiwi - O-* PED fs bate d “en” “damon Ts bogeck on Cibrfs Fartbus_ IDIGISI 9 WP FY k Hh it zw @=> PED is bose® oir Sample. Calartatio = —pessible Te_h hove _Inaccorate figure: =~ —— ; — ———e~ —— = 7 or ~~ Pit | dordpe - cre: 2 o - Pe ~ ~ & oo — ~ ~ Z - —— ~ — ™ Scanned with CamScanner= PES. 97 AN wm QS luepeckeutt s ~ A > -f _ t oak. ; P 2 cunt enigiit = ing Kn oes) ~ lterpatting Volace fess wst_be_vnitamy Llaste- 5 > cunve. taal, = oo ©, ‘ ~ il Pes at > Stash Suppey de = hats wit fot DL Pes 41 > lwrtosbic Supply [ikblas He Sup ply_werespe.- ~ SVL PES: th > Uisttory V | ctive o-snare - ~~ 4y Pes. Dd > y Luetastit. | > VNC ew gag ~ s) Pec. go > Pevectiy Elastic. | Ww ae wil be ar - pastic. - ST Elastic 24 lactatic 21 Unitus 1 Tene oe > ee pn jasttc, § oy So fe =| Te rE es He = } = es ° qo We = - = 3 pa eefectly— nelashe = O ; Peafectlg Lostc = of = = ty = Ps 3 g SO Q Ada Scanned with CamScanner$$} dete Na tect Cunttarg | > Sw tha bon nah nfesa -Shaould_be—___ re uel _ ermen She Be owen both nese vs ro XO = dernamd- kK — —- wo > Scanned with CamScannerata, —______+ ~~ Clagh’nik Factor. lof acing PES: = — “0 Doran Py vis Rntchable Cyop-ede L Soe Th be Sto — Gant. be Slomat se ox iy hag hehatic Sippy — 0 clack. wy 7 wt = ts_ellad fi cat teshead 5 pyice Sp rrocucey _lo_prite fa. by sto ving. Mh release Ahan § % tase by ~ Gi fy om ‘ebook rah bab —Pedating. Avon famn- ae. ke ries See eet ; ~Ot. Tima tau precluce the. geek? aE = iN the preetucton _ proces 1s Shorts Producer £4. engi LI Se te te 4 oden _ Supply 4 j_gutich Sepp mill “be elastic vice vera. Ss = 65 sp pare preduction, capactl ~— I he_preducen _Was_i ale /*v Lute _Yesources ©: gemack nec! =i i can engi dy Te ond bbe a pyre vise! §thenace Th ng __th aE » Yee VYCeS. vice Se Lu ppl by | otis ing 1oS_1cilc @ tice woms | ™ 6 Ged Lmport. Links’ m ‘ proclucer has good! Fmport inks 5 iiican gana iz eas fo paice es Impex ing the good, but { VT mport_barvins 29 Tat AS are there Suppty will _b r Ind ag be - =. YS 1 Scanned with CamScannera 6 as ves Inclustrcad a eek v Te a Doug tin Short processing time a Are durable ay v Meve Coutret sug production - Deparc Nature, v @Txpociy > Inelastic Heuce Clasbic Gpphy ; frepeuBlahle _O Mime. Rafal: mere. Short Pun = bohen_ eu count “adel Ca, tbat . Long Pun 2 Aku eu Caw add more Capital . ln Short “run _,_preetucey Cammst add more CapttadCMadninery | VVVDPIAANIDUN NW PE _ etc) —e4e)_,beuce Sb Sbpp Ly “remams__tnedaghe i But inthe Poug run, fe Cary add more Capitol elt = aes bill become clashes - Hg co _Suptods what iR_meont by Pes Sg shay Ama Geeds ashi 8p) ‘Tes a PCs) tit h 7 | aus) 7 bahia, Pi git rmula S ddat cS oe Is hat Supply : s _ — a c ~ ~ or 7 ~ Scanned with CamScannerAY 10/19. Hew: - Bladicthies. | ~ - § ae oc om oa aa ee P r2_bought ab chara in Guan => Suppl - dnd Supply wil bet | Pe. ks | Lov woh Hanae i Ebel tet oe sien tabs fa 0 = a > : - a Scanned with CamScannert 9 ee ree age —avatf tlhe gf nls eat ut valine reservalives heller pa tan = _yegeanch. ae vill a frseual the ete decciey he —— ns» they can n_ Stora “the _pre-< a = fomishck then price nies. Bot it ‘rraube costly § ae the the. image. 4 eng - Quanlily_as- _Cousumers_may -queslibrs 25 Hs__ freshness - at > Preducey can _Tedyce the b’me. bao le_precluce. o hic precluct Tt can bk achieved by aclepting_tatect om technology 4 bdang 2 ree The bralmect MU0TkeS am Tew he coho r % flewble - Ws will ahance Tape any et = 08 preducors san) __yan wutekly inevease_ Sopply whim priced A. _Hewenere latest — fectulegs g ene Pes mitl_tnly_be bem Tag me i 2 the buss coud d_xdd to. __ Séthng_vp_huv PlanIs_» __will become prite__elactt. If pute “rises, he _<¢ Immechately "™erease suppl . But the adaibonagl machin will ad fineot_cost. —_ demant_f KE, bucines J ends vp ruith vnwanled spare capacity Ae dsusse A_abeve, A preducr cou iunesse. Pag by a, hh €5_pwduclton caparctiy pbraumin reer oo fe ons ves the producer as Ruithel | mee! et Prisons — howe. a mati pallet | \ Scanned with CamScannerS => Short run + Lupply Inetog te. = Proctucers eb lity “® increace. PES neutd be onene | (m__the doug Mun ag MW can alhew aul factors se as Ss s =p Paabten ~ QR. Diswes how Crovt- con Increase the PES of ov = necessity prectuct 9(12)- y haw) Steboilieg a w ith tay com S ete odd to gpavre CapacTy 2 th add “te Lie > \ + to add b Trolining workers | ~ Hemever, Ce cock of sce 6 —opp_coel, gins ase of buy (Govt Storags ty.) _ but ews cheap ctor @. aca te bussnersed y oe i opp will eet elas mn pone aus = the (an__sfore__tise good § weleace Te wher _pnee > Yomowers Cost of mantonauce fb Stock. mai 7 + Alrcady be pee tly. pH Or | 3 > Prestble damage testo Sd => Ronevt Trade Barriers. By nema on Taaiffs (Bos the produces ruil be eakily able lepond- be. puace ise lamperting the proseluct : i Other own twreg Sew =e {n—ow ceoinkay 5 demand pera peas faul frem “Tuff re uce Scanned with CamScannerchange | fn__inoome. YED = ‘A change tn QD a hic elaewnaye ho eseme = Case normal fyoeek = - rave a post hive vela bonship With Pnceme_. 20 when = QOD whom VV QDI ee x one Bovus Aupes: : — _O. Necessities: Thay bane _ou_pesitive. VED but verry inelashc_em vretbonse_te_imceme_chamge . YED is_alomost__3e70 = &. my vice, meckiome , Floor €te_- ee Olawates + They hone aes) positive Vesbonse te Income chounge._ ee ‘4 Tphone._, Me YEp>1. O Otter Normal Gueds: All Seeds with ae sac Reel lsat = ey ad DAAnatt hy in lt Scanned with CamScanner21 Cormat Goods) YEDic behveen : o- ~ | ~~ a Oe” =< 6 —~ Case \ ic Cyesdss 1s fas ~~ hk 4 ih a oagabie ela bionc hip _with lncome _— Yt @DY ~ Yi &pt = fog 2" hhourd clothing ___} They ust ofoaus » Street food staus a > Match Bones _ o nego! i y* eid ee Ud td es || O- 6G UB] -_ yin“ OG xpai.n what facts, Mako poole thion in _[nk- ele hy Center flats #- San glrtnd nal wee = Futon Con fidene AD k = How Mh Rate wer ye olvced ~Tine’ 3S ad ] WS Scanned with CamScannera. Noviaad vf Lang peeducls daring Veceitien t i cities tte p—fov fhowy oe Producer Shedd cb aes, —> Sher hes 4 delsaitie 4 inbeduce Some {aterion in tee foe e- Danand fer cnn beh hep boul vote bs fam nermad may. beads _by sating inferior ods. das aduovice_ thet | pas With |@ oe ee oe < bie ni) 5 $= Bat, bb ta be able swiich le _run. Theve voit) be cost Hae The fe & Se rphon co I rel worsem Cath Flew. s Bie fhe qends_dining_gowsth_feadadt ‘ rowth _tncomes ise demand — fe : fae ~ x las fouls . Preducer Shevtd in luce 1 eT ear goede intel product Line. lp Couol- yw | fev_LoSt_renorne prem Parp enon Gees: < « Pre-elucer~ cam_alco Advertise” their new by Launch i goede pith a ‘beGh Quodety Hm Prsces, sf, Nowa = Scanned with CamScanner& Los Geeds << be raed take Rie. noe weed ee a. va j utbwacist Hehe te x yet Covgumanrs not ~~ _asfociate ~—Quratitiy rit 4 ths the praaiousdy =e ~ Fes Je produce . — SF = Evaluations _ — As_Ossurssed abou above prpeucey cam make te > owt Lind @& Goods wher incomes Change te VED \ tay eal cas tae" Pe te _wore thon! VEDA YEDAccante in dérect eat. Y eahol ofthe tatnckls maren as . PED has immecuate <5 = dali oe we i Exobnalive bette - te D has tmmetiate vagal =a eoNED 36 mone uss atv =J S| = Scanned with CamScannereae. tat Fubact 4 a “aN ae te s a ; & g Sais.) ve nov ws tees = br Weed bo be pootect insane 4 aoe ar ~ _IFa seen _ Speciodiges ow owt onion, gees’ | tncomeg > be cam _eatimate the dee m¥ dred & oe _waise tax Rate if they aqaal san! del bb lo” padshiot “the nieab FON lwprastuckore im _fature Wis 's because _peeple ___ wl _ Switels From ae i Tal te uit een _velie les. _ EIN TATIONS + _ BNED mwvoybe_ galowlabeat brasearotely— 2 tistpme_ fe were + _ gq Smal sample for —colotation. 0 FED wage 1S more _ _ prs run _bohawe ot PED = ae. —tmmeawale vests one PED_& more use 2 Citennas _fackory_ onda agatg a8 _fdeerwer te HY > Enteriroh factors ms Cham foaning ___YED Phang Regs op ee tae “Scanned with CamScannerb i Q Mork Q m8) Discuss the _wsefuluess VED buorleasbge: bo a govewnmunts 7 poticy valores + Cia) — os) Se) hea — 8 Mark Svorfatieu = 4 Mork ~~ ~ = 4 foc roby mecha (3 3 poin’e to 4 ae titans (a fa Add at ~ > Cypoonnneec cow use YEd_te_acers_frapact to frente — Sern 2th Sout o_th ack ow di: Saddcoct fam. esa _et nek _chramnge\ a taeie Ore - Wwaccunad x career rowmic emiernal facts: Vo « e VED bos tila Weeftonss fh! sbalicitie, surat PED ae mae vse] ws Siuamesut olehy. while DAS a Rog rum ce 2 6 LEU. Cros. Ela ici by of Deman ol C XED) + ce then pgm — ED= Z% A Py Dol Coot A Lt in Pot Goo 6. { ie — ra BE 8d det = /00 e 2 I Qu = 90 Ain Gz =10 100. -104 100 T A tm P+ 9 x10 2 JO%, — ip > jaar Yebe 0» OS P Goeep Tema “aera? Bae ha 62 al be] St le e Cit A qi Scanned with CamScannerCase gh Qubstitules, = Thy Vore ottermattues —9 sect _ o besibive ee ed _ Somaoug pbs a er etal _viges oc is thue wprvend sloping “Coser the guctitute- SSS ea Lromacter the Cress clog hulk aL ae ven a = _b Distant the Sube Ftuter - L x b> tower te _XED = EO jos, Hr? sees XeD=z4 an Case Complements $ Ore. = fetta vanded —> Wes baer — have [ “fecteul pedabinasleie rohit we ohaa Dap oa = P af owe. - Hey Le = Closer the tornplement > > Greater the AED »4 = Distomt the lemumt —> Lpwer~ the XED2z -1 o anaes post XED20 - Sse = “4 ‘ Scanned with CamScannerCroce Flachiity of Senand we ~ bs JU + Steg AED 6 pauses j ~ _ b fs cubs steht O._4op.clucer fluds tle knovle hae 2 i SS x&p ii i Aw) is v | »~ i t Syoustion | > u | 3 4 fer Gus bates ¢ a> Preclucevs cam ute, the buowleedge of XED & acexs | ss—hew demana for bis qend wil Sle sien =e potetoys He Alain qep - AY the puce 3 Suen demamc_t x St oy He tan See lens much demon ao ~ by using XED formu, To Sate g and te fou hone fy petite ahoutd - ° Re duce, pwce. bo maintarn cesbomors i ee Ont acoenae. proinan Mowal Ye ancoore i! 7 Bakes is “te z + Cut pack. Supply _ fo veduce Cosi Sudy at 7 exer - hime _wwerkere payments. 7 Upto 4 bey = Complements ore jointly "mane A § have a i ate reloboucllb. ie prce_of sae t \ ; esd pons Vises domed Pi} fom fox. (ute I Polat cam —ehhimate the onpecter Han & fon | demand 4 x \ i wroriatouin. 2 Ober pomption ¢:4 BOGE v Meee feet TATIONISE. 9X ED ns ray be dd Scanned with CamScannerArtin = Nore Oak mans, ononwat datos which cow Lit us XED = _Evoluation + [o_svm up precucers CA use § XED__te_woke. correct prising. >promoiional &, e € sata dectetams in wetbannte, bo Clacana ee Pu meloted Govae bees « Howener 5X & —Yrelledk bern due te tmaccunacy & (ole for. dots PED is more us} than XED aésea® pies ame in clivecl. bol oP busing hore ag - —rHale-d__qends prises axe. eerily en tg Scanned with CamScanner