acca全新課程1 f階段網(wǎng)課選看上課

WhatisF1about?

Thebusinessorganization,itsstakeholdersandtheexternalenvironment(A)

Organizationalstructure,functionsandculture(B)

Corporategovernanceandinternalcontrolsystem(C)

Humanresourcemanagement(D)

Improvingpersonaleffectiveness(E)

Ethicsinbusiness(F)

PartA

Businessorganization,itsstakeholdersandtheexternalenvironment

Chapter3

Micro-economics

Learningobjectives

Basicconceptsinmicro-economics

Supplyanddemand

Pricemechanism

Maximumandminimumprices

Typesofmarket

1Basicconceptsinmicro–economics

Definitionofmicro-economics

Microeconomicsfocuseson：

howtheindividualpartsofaneconomymakedecisionsabouthowtoallocatescarceresources.Theseindividualpartsincludeconsumers,firmsandindustries

howsupplyanddemanddecisionsmadebytheseindividualsaffectthesellingpricesofgoodsandserviceswithinanindustryormarket

whateffectnationaleconomicpolicieshaveonthesegroups

1Basicconceptsinmicro–economics

1Basicconceptsinmicro–economics

inalutility

Exercise1-Level3

Mr.Smithhasalimitedincomewhichrestrictsthenumberofdifferentgoodshecanbuy.WhichoneofthefollowingbestdescribesthepositionatwhichMr.Smith'sutilityfrompurchasingdifferentgoodsismaximized?

AMarginalutilityfromeachgoodisequal

BMarginalutilityfromeachgoodis0

CRatioofmarginalutilitytopriceisequalforeachgood

1Basicconceptsinmicro–economics

(5)Consumerrationality

Theconsumerattemptstomaximisethetotalutilityattainablewithalimitedincome.

1Basicconceptsinmicro–economics

(6)Assumptions

Freemarket

Scarceresource

Infinitewants

Rationalconsumers

假設(shè)市場是自由的

假設(shè)資源是稀缺的

假設(shè)人的欲望是無窮的

假設(shè)人是理性的

2Demandfactors

Demandforagoodorserviceisthequantityofthatgoodorservicethatpotentialpurchaserswouldbewillingandabletobuy,orattempttobuy,atanypossibleprice

Priceofice-cream

Quantityofice-cream

0

12

1

10

2

8

3

6

4

4

5

2

6

0

2Demandfactors

Demandcurve

2Demandfactors

Factorsdeterminingdemandforagood☆☆☆

Factorsdeterminingdemandforagood

Howdoesdemandcurvechange?

Thepriceofthegood

Pointmovementalongthedemandcurve

Thesizeofincome

Thedemandcurvewouldshifttotherightifthesizeofincome

increased,andviceversa.

Thedistributionofincome

Thedemandcurvewouldshifttotherightifthedistributionofincomeincreased

Thepriceofsubstitutegoods

Thedemandcurvewouldshifttotherightifthepriceofsubstitutegoodsincreased

Thepriceofcomplementgoods

Thedemandcurvewouldshifttotheleftifthepriceofcomplementgoodsincreased

Tastesandfashion

Achangeintastestowardsthisproductwouldresultintheshiftofdemandcurve.

Expectationoffuturepricechanges

Thedemandcurvewouldshifttorightifpeopleexpectthefuturepricetowardsthisproducttoincrease.

Population

Thedemandcurvewouldshifttorightifthepopulation

increased.

2Demandfactors

Substitutesandcomplements

Substitutegoodsaregoodsthatarealternativestoeachother.(AorB)

Complementsaregoodsthattendtobeboughtandusedtogether.(AandB)

2De andfactors

Factors eerminingdeman oragoo ☆☆☆

ointmovement

Shifttoright

Thepriceofhegood

Thesizeofincome

Thedistributionofincome

Thepriceofsubstitutegoods

Thepriceofcomplementgoodsf Tastesandfashion

Expectationoffuturepricechanges

Populatio

Exercise2-Level1

Thedemandcurveforaproductwillshifttotheleftwhenthereis:

Ariseinhouseholdincome

Anincreasingdesirabilityfromthefashionpointofview

Afallinthepriceofasubstitute

Afallinthepriceofacomplement

2Demandfactors

(3)Threekindsofelasticity

Priceelasticityofdemand（PED）需求價(jià)格彈性

Incomeelasticityofdemand（IED）需求收入彈性

Crosselasticityofdemand（CED）需求交叉彈性

2Demandfactors

a.Priceelasticityofdemand

PEDmeasuresthedegreetowhichthenumberofunitsdemandedbycustomersreactstochangesinthesalesprice.

2Demandfactors

(3)a.Priceelasticityofdemand

Thepriceofagoodis$1.20perunitandannualdemandis800,000units.Marketresearch

indicatesthatanincreaseinpriceof10centsperunitwillresultinafallinannualdemandof70,000units.

Arcelasticityofdemand弧彈性

Whatisthepriceelasticityofdemandmeasuringtheresponsivenessofdemandoverthisrange

ofpriceincrease?---平均值

Percentagechangeindemand=70,000/[(800,000+730,000)/2]=0.0915

Percentagechangeinprice=0.1/[(1.2+1.3)/2]=0.08

PED=0.0915/0.08=1.14>1

elastic

2Demandfactors

(3)a.Priceelasticityofdemand

Thepriceofagoodis$1.20perunitandannualdemandis800,000units.Marketresearch

indicatesthatanincreaseinpriceof10centsperunitwillresultinafallinannualdemandof70,000units.

Pointelasticityofdemand點(diǎn)彈性

Calculatetheelasticityofdemandatthecurrentpriceof$1.20.

Percentagechangeindemand=70,000/800,000=0.0875

Percentagechangeinprice=0.1/1.2=0.083

PED=0.0875/0.083=1.054>1

elastic

2Demandfactors

(3)b.Incomeelasticityofdemand

Elasticity

Value

Typesofgood

Example

Negative

IED<0

Inferiorgoods

Fastfood

Inelastic

0<IED<1

Necessities

Basicfood

Elastic

IED>1

Luxurygoods

Yachts,LV,Channel

2Demandfactors

(3)c.Crosselasticityofdemand

Crosselasticity

Comment

-1

Perfectcomplements

-ve

Complements

0

Unrelated

ve

Substitutes

1

Perfectsubstitutes

Exercise3-Level1

Theincomeelasticityofdemandforaproductishigh.Thismeansthat:

Saleswillincreasesharplyifthepriceisreduced

Saleswillfallonlyslightlywhenincomefalls

Saleswillrisesharplywhenincomerises

Alloftheabove

3Supplyfactors

Supplyreferstothequantityofagoodthatexistingsuppliersorwould-besupplierswouldwantto

produceforthemarketatagivenprice.

3Supplyfactors

Supplycurve

3Supplyfactors

(1)Factorsdeterminingsupplyforagood☆☆☆

Factorsdeterminingsupplyforagood

Howdoessupplycurvechange?

Thepriceofthegood

Pointmovementalongthedemandcurve

Thecostsofmakingthegood

Thesupplycurvewouldshifttotheleftifthecostsofmakingthegoodincreased,andviceversa.

Thepricesofothergoods

Thesupplycurvewouldshifttotheleftifthepricesofothergoodsincreased,andviceversa.

Expectationsofpricechanges

ThesupplycurvewouldshifttotheleftIfpeopleexpectedthepriceofproducttoincrease,andviceversa.

Changesintechnology

Thesupplycurvewouldshifttotherightsupposingthetechnologyimproved.

Spplyfactors

Factors eerminingsuppyforagoo ☆☆☆

ointmovement

Sifttorigt

Thepriceofhegood

Thecostsofmakingthegood

Thepricesofothergoods

Expectationsofpricechanges

Changesintechnoogy

f Otherfactorssuchasweather

Exercise4-Level2

Allofthefollowingarelikelytoleadanoutwardshiftinthesupplycurveforacurve,except:

Theintroductionofcost-reducingtechnology

Anincreaseinthepriceofthegood

Adecreaseinthepriceofaresourceusedtomakethegood

Adecreaseintaxesonproducers

Extension:Shortrunsupplycurve

Marginalrevenue:additionalrevenuegainedbysellingadditionaloneunit.Marginalcost:additionalcostoccurredbyproducingadditionaloneunit.

①Profitmaximization: MR=MC

②P=AR=MR

③MC=Supply

Whenwouldsuppliersbewillingandcontinuetoproduceproducts?

④MC>AVC

Pricemechanism

Price

Excesssupply supplycurve

equilibrium:S=D

市場均衡價(jià)格

demandcurve

Excessdemand

Quantity

4Pricemechanism

Theequilibriumpricewillprevailandremainstableifthereisnochange.

Thesupplyanddemandwillpushpricestowardsequilibriumpriceifthemarketisindisequilibrium.

Therewillonlybeoneequilibriumposition.

Shiftsinthesupplyanddemandcurvewillchangetheequilibriumprice.

ConsumersurplusandProducersurplus

Consumersurplus:消費(fèi)者“占的便宜”Producersurplus:生產(chǎn)者“占的便宜”

Maximumandminimumprice

Price

要想讓最低價(jià)設(shè)置的有意義，必須在市場均衡價(jià)格之上；要想讓最高價(jià)設(shè)置的有意義，必須在市場均衡價(jià)格之下

supplycurve

minimumprice:pricefloor

equilibrium:S=D

市場均衡價(jià)格

maximumprice:priceceiling

demandcurve

Quantity

Exercise5-Level2

Apriceceilingsetabovetheequilibriummarket