Demand, Supply, Market

Course: Pengantar Ekonomi

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 Normal & Inferior Goods
Normal Goods
Goods for which demand goes up when income
is higher and for which demand goes down
when income is lower
Inferior Goods
Goods for which demand tends to fall when
income rises

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 Market & Price
Market (Pasar)
Sebentuk organisasi dimana penjual dan
pembeli dapat berhubungan satu sama lain, dan
terjadi interaksi antara pembeli dan penjual
dalam menentukan harga
Price (Harga)
Suatu tingkat penilaian dimana barang yang
bersangkutan dapat ditukar dengan sesuatu
yang lain
Ditentukan oleh permintaan dan penawaran

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 The Price System:
Rationing and Allocation Resources
The adjustment of price is the rationing
mechanism in free market
Price rationing:
whenever there is a need to ration a good (when
a shortage exists) the price of good will rise
until quantity supplied equals to quantity
demanded (market clears)
Exception:
Some products (example: rare painting)

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 Membaca Mandiri:
Contraints on the Market and Alternative Rationing
Mechanisms
Oil, Gasoline, and OPEC
Rationing Mechanisms for Concert and Sports Tickets
Prices and the Allocation of Resources
Price Floor
Supply and Demand and Market Efficiency
Consumer Surplus
Produser Surplus
Competitive Markets Maximize the Sum of Producer and
Consumer Surplus
Potential Causes of Deadweight Loss From Under- and
Overproduction

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 Elasticity

Course: Pengantar Ekonomi

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 Changes in Equilibrium

DPQ SPQ

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 Changes in Equilibrium

DPQ SPQ

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Number of Changes in Equilibrium

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Number of Changes in Equilibrium

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 Price Elasticity of Demand
the ratio of the percentage of change in quantity
demanded to the percentage change in price

Example
Apabila harga kedelai naik dari $ 2.00 menjadi $ 2.20 dan jumlah
yang dibeli turun dari 10 unit menjadi 8 unit, maka elastisitas
permintaan dapat dihitung sebagai berikut :

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 Calculating Elasticities:
The Midpoint Formula
To describe percentage changes more accurately

Example
Apabila harga kedelai naik dari $ 2.00 menjadi $ 2.20 dan jumlah yang
dibeli turun dari 10 unit menjadi 8 unit, maka elastisitas permintaan
dapat dihitung sebagai berikut :

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 Types of Elasticity
Inelastic Demand ( e < 1)
Kuantitas yang diminta sedikit saja bereaksi terhadap perubahan
harga yang terjadi
Elastic Demand (e > 1)
Kuantitas yang diminta bereaksi dengan kuat terhadap perubahan
harga yang terjadi
Perfectly Inelastic (e = 0)
Kuantitas yang diminta tidak merespon sama sekali terhadap
perubahan harga yang terjadi
Perfectly Elastic (e = )
Kuantitas yang diminta berubah secara tak terbatas dengan adanya
sedikit perubahan harga
Unitary Elastic (e = 1)
Kuantitas yang diminta berubah dengan persentase yang sama
seperti perubahan harga

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Inelastic Demand ( e < 1)

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Elastic Demand (e > 1)

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Perfectly Inelastic (e = 0)

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Perfectly Elastic (e = )

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Unitary Elastic (e = 1)

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The Determinants of Demand Elasticity
Availability of Subtitutes
When the subtitutes item is easy to get, the item will be more
elastic
The Importance of Being Unimportant
An item will be inelastic when it is relatively small part of our total
budget
An item will be elastic when it is expensive item
An item will be elastic when it is multi-function item
The Time Dimension
The elasticity of demand in the short run may be very different
from the elasticity of demand in the long run
In the longer run, demand is likely to become more elastic, or
responsive
Long-term item will be more elastic than short-term item

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 Membaca Mandiri:
Elasticity Changes Along a Straight-Line
Demand Curve
Income Elasticity of Demand
Cross-Price Elasticity of Demand
Elasticity of Supply
Elasticity and Total Revenue

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