# 2.2 herhalen + uitleg 2.3

Program
Recap 2.2 + check homework
Explanation 2.2 + assignments
1 / 13
Slide 1: Tekstslide
EconomieMiddelbare schoolvwoLeerjaar 3

In deze les zitten 13 slides, met interactieve quizzen en tekstslides.

Lesduur is: 60 min

## Onderdelen in deze les

Program
Recap 2.2 + check homework
Explanation 2.2 + assignments

#### Slide 1 -Tekstslide

Lesson objectives
You are able to explain when an excess demand occurs
You can explain how the equilibrium price is determined
You can explain when an excess supply occures

#### Slide 2 -Tekstslide

What was our last class about?

#### Slide 3 -Tekstslide

Turnover

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

2000 products are sold for € 50
Sales = 2000 products
Total Revenue = € 50 x 200 = € 100.000

#### Slide 4 -Tekstslide

Total Profit

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

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

#### Slide 5 -Tekstslide

What's the difference between fixed and variable costs?

#### Slide 6 -Open vraag

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 7 -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 8 -Tekstslide

What's the difference between a supply and demand curve?

Demand curve
Supply curve

#### Slide 10 -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

CHECK HOMEWORK