CHAPTER 4
The Market Forces of Supply & Demand
In this chapter, look for the answers to
these questions:
Qd
P P
(Market)
$6.00
$0.00 24
$5.00 1.00 21
$4.00 2.00 18
3.00 15
$3.00
4.00 12
$2.00
5.00 9
$1.00 6.00 6
$0.00 Q
0 5 10 15 20 25
Pergeseran (Shifts) pada kurva
permintaan
• Kurva permintaan menunjukkan bagaimana harga mempengaruhi
kuantitas yang diminta, ceteris paribus (hal lainnya dianggap
konstan)
• Jika terjadi sesuatu yang dapat mengubah jumlah yang diminta
pada setiap tingkat harga tertentu, maka akan menggeser
Demand
• "Hal-hal lainnya" adalah penentu permintaan selain harga (yaitu,
hal-hal yang menentukan permintaan pembeli akan suatu barang,
selain harga barang).
• Perubahan di dalamnya menggeser kurva D
1. Pergeseran kurva demand (Demand Curve Shifters) :
jumlah pembeli
Quantity
• Supply schedule – daftar penawaran: Price
of ice
tabel yang menunjukkan hubungan of ice
cream
antara harga barang dan jumlah cream
supplied
• Example: $0.00 0
walls supply of ice cream 1.00 3
2.00 6
3.00 9
Notice that Ice Cream supply schedule 4.00 12
obeys the Law of Supply. 5.00 15
6.00 18
Walls’ Supply Schedule & Curve
Quantity
Price
of ice
of ice
P cream
cream
$6.00 supplied
$0.00 0
$5.00
1.00 3
$4.00
2.00 6
$3.00 3.00 9
$2.00 4.00 12
5.00 15
$1.00
6.00 18
$0.00 Q
0 5 10 15 CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
Penawaran pasar vs penawaran individu
• Kuantitas yang disediakan di pasar adalah jumlah dari jumlah yang
diberikan oleh semua penjual pada setiap harga.
• Misalkan walls dan alice adalah hanya dua penjual di pasar ini. (Qs =
kuantitas yang disediakan)
QS
P P
(Market)
$6.00
$0.00 0
$5.00
1.00 5
$4.00 2.00 10
$3.00 3.00 15
4.00 20
$2.00
5.00 25
$1.00
6.00 30
$0.00 Q
0 5 10 15 20 25 30 35
SUPPLY CURVE SHIFTERS
(BERGESER)
• Kurva penawaran menunjukkan bagaimana harga mempengaruhi
kuantitas yang ditawarkan, hal lain dianggap sama.
• "Hal-hal lain" ini adalah faktor-faktor penentu selain harga
• Perubahan menggeser kurva S
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
1. Supply Curve Shifters:
harga input
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
2. Supply Curve Shifters:
input prices
P Misalkan harga susu
$6.00 turun. Maka kuantitas
es krim yang
$5.00
disediakanakan
$4.00 meningkat
$3.00
$2.00
$1.00
$0.00 Q
CHAPTER 4 THE
0 5 10 15 20 25 30 35 MARKET FORCES OF
SUPPLY AND DEMAND
3. Supply Curve Shifters:
technology
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
5. Supply Curve Shifters:
expectations
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
Summary: Variables That Affect Supply
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
Supply and Demand Together
Supply and Demand Together
P Keseimbangan:
$6.00 D S
$5.00 P tercapai pada saat jumlah
yang disuplai sama kuantitas
$4.00
yang diminta
$3.00
$2.00
$1.00
$0.00 Q
0 5 10 15 20 25 30 35
Harga pada saat keseimbangan
P
$6.00 D S P QD QS
$5.00 $0 24 0
$4.00 1 21 5
$3.00
2 18 10
3 15 15
$2.00
4 12 20
$1.00 5 9 25
$0.00 Q 6 6 30
CHAPTER 4 THE
0 5 10 15 20 25 30 35 MARKET FORCES OF
SUPPLY AND DEMAND
Equilibrium quantity:
Kuantitas pada saat keseimbangan
P
$6.00 D S P Q D QS
$5.00 $0 24 0
$4.00 1 21 5
$3.00
2 18 10
3 15 15
$2.00
4 12 20
$1.00 5 9 25
$0.00 Q 6 6 30
CHAPTER 4 THE
0 5 10 15 20 25 30 35 MARKET FORCES OF
SUPPLY AND DEMAND
Surplus: ketika kuantitas yang ditawarkan lebih besar
dari kuantitas yang diminta
P
$6.00 D Surplus S Example:
jika P = $5,
$5.00
maka
$4.00 QD = 9 ice cream
$3.00 dan
$2.00 QS = 25 ice cream
Surplus ice cream : 25 – 9 = 16
$1.00
$0.00 Q
0 5 10 15 20 25 30 35
Surplus: ketika kuantitas yang ditawarkan lebih besar
dari kuantitas yang diminta
P
$6.00 D Surplus S
$5.00
$4.00
$3.00
$2.00 Prices continue to fall until
market reaches equilibrium.
$1.00
$0.00 Q
CHAPTER 4 THE
0 5 10 15 20 25 30 35 MARKET FORCES OF
SUPPLY AND DEMAND
Kekurangan (shortage): ketika kuantitas yang
diminta lebih besar dari kuantitas yang diberikan
P
$6.00 D S Example:
jika P = $1,
$5.00
then
$4.00 QD = 21 ice cream
$3.00 and
QS = 5 ice cream
$2.00
Shortage of 16 ice cream
$1.00
$0.00 Shortage Q
0 5 10 15 20 25 30 35
Shortage: ketika kuantitas yang diminta lebih besar
dari kuantitas yang diberikan
P
$6.00 D S
$5.00
$4.00
$3.00 Prices continue to rise
$2.00
until market reaches
equilibrium.
$1.00
Shortage
$0.00 Q
0 5 10 15 20 25 30 35
Three Steps to Analyzing Changes in Equilibrium
1. Tentukan apakah event menggeser kurva S, Kurva D, atau
keduanya.
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
EXAMPLE: The Market for Hybrid Cars
P
price of
S1
hybrid cars
P1
D1
Q
Q1
quantity of 4 THE
CHAPTER
MARKET FORCES OF
hybrid
SUPPLYcars
AND DEMAND
EXAMPLE 1: A Change in Demand
EVENT TO BE
ANALYZED: P
Increase in price of gas. S1
STEP 1: P2
D curve shifts
because
STEP 2:price of gas P1
affects demand for
D shifts right
hybrids.
because
STEP 3: high gas price
Smakes
curvehybrids
does not shift,
more D1 D2
The shiftprice
because causes an
attractive relative gas
of to Q
increase
does not in pricecost of
affect Q1 Q2
other cars.
and quantity
producing of hybrid
hybrids.
cars.
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
EXAMPLE 1: A Change in Demand
Notice: P
When P rises,
S1
producers supply
a larger quantity P2
of hybrids, even
though the S curve P1
has not shifted.
Always be careful to
D1 D2
distinguish b/w a
shift in a curve and Q
Q1 Q2
a movement along
the curve. CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
Terms for Shift vs. Movement Along Curve
• Change in supply: a shift in the S curve
• occurs when a non-price determinant of supply changes (like technology
or costs)
STEP 3, cont.
P1
But if supply
increases more P2
than demand,
D1 D2
P falls.
Q
Q1 Q2
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
CONCLUSION:
How Prices Allocate Resources
• One of the Ten Principles from Chapter 1: Markets are usually a
good way
to organize economic activity.
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
CHAPTER SUMMARY
• A competitive market has many buyers and sellers, each
of whom has little or no influence
on the market price.
• Economists use the supply and demand model to analyze
competitive markets.
• The downward-sloping demand curve reflects the Law of
Demand, which states that the quantity buyers demand of
a good depends negatively on the good’s price.
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
CHAPTER SUMMARY
• Besides price, demand depends on buyers’ incomes, tastes,
expectations, the prices of substitutes and complements,
and # of buyers.
If one of these factors changes, the D curve shifts.
• The upward-sloping supply curve reflects the Law of
Supply, which states that the quantity sellers supply
depends positively on the good’s price.
• Other determinants of supply include input prices,
technology, expectations, and the # of sellers. Changes in
these factors shift the S curve.
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
CHAPTER SUMMARY
• The intersection of S and D curves determine the market
equilibrium. At the equilibrium price, quantity supplied equals
quantity demanded.
• If the market price is above equilibrium,
a surplus results, which causes the price to fall.
If the market price is below equilibrium,
a shortage results, causing the price to rise.
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
CHAPTER SUMMARY
• We can use the supply-demand diagram to analyze the
effects of any event on a market:
First, determine whether the event shifts one or both
curves. Second, determine the direction of the shifts.
Third, compare the new equilibrium to the initial one.
• In market economies, prices are the signals that guide
economic decisions and allocate scarce resources.
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND
CHAPTER 4 THE
MARKET FORCES OF
SUPPLY AND DEMAND