3E Economics par. 2.2

Par. 2.1 assignment 1
a)  -100 x 20 + 24.000 = 22.000
b)  -100 x 80 + 24.000 = 16.000

c)  -100P + 24.000 = 17.000
-100P = -7.000
P = 70
d) Sold out very quickly, demand > supply
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Slide 1: Tekstslide
EconomieMiddelbare schoolvwoLeerjaar 3

In deze les zitten 19 slides, met interactieve quizzen, tekstslides en 1 video.

time-iconLesduur is: 60 min

Onderdelen in deze les

Par. 2.1 assignment 1
a)  -100 x 20 + 24.000 = 22.000
b)  -100 x 80 + 24.000 = 16.000

c)  -100P + 24.000 = 17.000
-100P = -7.000
P = 70
d) Sold out very quickly, demand > supply

Slide 1 - Tekstslide

Par. 2.1 assignment 10a
A
Change, it will be another point on the same curve
B
Shift, we will buy less scooters at any price

Slide 2 - Quizvraag

Par. 2.1 assignment 10b
A
To the left, they are complementary goods
B
To the right, they are competitive goods

Slide 3 - Quizvraag

Par 2.1 assignment 10c
A
To the left, they are complementary goods
B
To the right, they are competitive goods

Slide 4 - Quizvraag

At a higher price companies will supply ...(1) products, because they achieve a ...(2) profit
A
1 less 2 lower
B
1 less 2 higher
C
1 more 2 lower
D
1 more 2 higher

Slide 5 - Quizvraag

Supply curve

Slide 6 - Tekstslide

Demand curve
Supply curve

Slide 7 - Tekstslide

Supply curve
Supply curve: shows the relationship between price and the quantity supplied
Example of a supply curve: 
Qs = 0,25P – 5
Qs = amount of products offered
P = price of the product in euro’s
  • the supply curve will be upward sloping
  • the number before p will be positive


Slide 8 - Tekstslide

How to draw the supply curve?
  1. Calculate the price when Qs = 0 
  2. Calculate Qs at a higher price than the answer of step 1. 
  3. Draw the vertical axis with the price and the horizontal axis with Qs.
  4. Put 2 dots on the points you calculated at step 1 and 2 and draw the line. 

Slide 9 - Tekstslide

How to draw the supply curve?
Calculate the price when  Qs = 0  
0,25P - 5 = 0
0,25P = 5
P = 20  
 so ( 0, 20 )
Calculate the Qa at a higher price than the answer in step 1 
0,25 x 80 - 5 = 15
so ( 15, 80 )

Slide 10 - Tekstslide

Supply curve
The supply curve gives us the amount of products supplied at a certain price.
Qs = 0,25P – 5
(p in €, Qs in number of products)

Slide 11 - Tekstslide

Turnover

Turnover or Total Revenue = sales quantity x selling price
 TR = P x Q


2000 ties are sold for € 50
Sales = 2000 products
Total Revenue = € 50 x 2.000 = € 100.000

Slide 12 - Tekstslide

Total Profit

Total Revenue = Sales x Selling price
 TR = P x Q

Total profit = Total Revenue - Total Costs
TP = TR - TC

Slide 13 - Tekstslide

Slide 14 - Video

Total Costs (restaurant)
Fixed costs - costs that are not dependant of the number of products produced.
F.e.: rent, insurance

Variable costs - Costs that do depend on the number of produced products. 
F.e.: ingredients of the meals 

Slide 15 - Tekstslide

Total costs
TC = 2Q + 100

2Q = variable costs, depend on Q (amount of products)
F.e.: costs per pizza are € 2

100 = fixed costs, you have to pay them anyway
F.e.: Loan and rent



Slide 16 - Tekstslide

A bakery sells 200 loafs of bread and receives € 420 in total. What is correct?
A
Sales is € 420
B
Total profit is € 420
C
Total revenue is 200
D
Total revenue is € 420

Slide 17 - Quizvraag

A company sells 30 shirts at € 30 per shirt. The total costs are € 420. What is incorrect?
A
Total profit is € 480
B
Sales are 30 shirts
C
Total Revenue is € 900
D
Total profit is € 900

Slide 18 - Quizvraag

Hw.
For next lesson:
Par 2.2 assignment 6

For now:
Par. 2.1 assignments 2, 3, 4, 5, 6, 7, 8, 9
Par. 2.2 assignments 2, 3, 4, 5, 7, 8, 9, 10

Slide 19 - Tekstslide