Economics for

Managers

W3 TUTORIAL
- SHASHI CHAUDHARY
 Attention!

Please keep
your mobile
phone(s)
inside your
bag-pack.

No mobile
phones

:2
 … Continued from lecture session W3

How many of
‘economics
terms’ you can
see in this
image?

3
What are the
major
determinants of
Demand?
What’s about
determinants of
Supply?

4
Do you
purchase
more of
petrol when
its price falls?
Or you
purchase less
of petrol
when its
prices rises?

5
 What is the best way to stop smoking?

1. Ban production of
tobacco products.
2. Tax the tobacco
products so heavily
that most people
cannot afford to buy
it.
3. Read these books.
4. Create awareness
among people about
the harms that
smoking causes. Is there any economic explanation
working behind your selection of answer?

6
 What is the best way to stop smoking?

1. Ban production of
tobacco products.
2. Tax the tobacco
products so heavily
that most people
cannot afford to buy
it.
3. Read these books.
4. Create awareness
among people about
the harms that
smoking causes. Is there any economic explanation
working behind your selection of answer?

7
 If you don’t understand economic sense
o f e l a s ti c i t y …

Is better
agricultural
production
bad?
So why do INDIA
farmers
first grow,
and then
throw
away?

8
 If you don’t understand economic sense
o f e l a s ti c i t y …

Is better
agricultural
production
bad?
So why do VIETNAM
farmers
first grow,
and then
throw
away?

9
 Understand how Market Mechanism works

Is better
agricultural
production
bad?
So why do
farmers
first grow,
and then
throw
away?

10
 Discussion

University agronomists have discovered new rice

hybrid seed that is more productive than existing
varieties.
Would this discovery be likely to make farmers
better off or worse off?