Theory of Demand

Consumer demand is the quantities of a particular good that an individual consumer wants and is able to buy as the price varies, if all other factors influ­encing demand are constant.

That is, consumer demand is the relationship between the quantity de­manded for the good and its price. The factors assumed constant are prices of other goods, income, and a number of noneconomic factors, such as social, physiological, demographic characteristics of the consumer in question (о котором идет речь).

The theory of demand is based on the assumption that the consumer hav­ing budget constraint seeks to reach the maximum possible level of utility, that is, to maximize utility, but he usually prefers to obtain more rather than less. The consumer has to solve the problem of choice. Provided he is to main­tain a given level of utility, increases in the quantity of one good must be followed by reductions in the quantity of the other good. The consumer has to choose the specific goods within the limits imposed by his budget.

The concept of marginal utility is of great importance for solving the util­ity maximization problem. The marginal utility of a good is the additional utility obtained from consuming an additional unit of the good in question. The marginal utility from consuming a good decreases as more of that good is consumed. The income should be allocated among all possible choices so that the marginal utility per dollar of expenditure on each good is equal to the marginal utility per dollar of expenditure on every other good.

A price increase will result in a reduction in the quantity demanded. This relationship between the quantity demanded of a good and its price is called the law of demand. As the marginal utility from each additional unit of the good consumed decreases, the consumer will want to buy more of this good only if its price is reduced.

Market demand is the quantities of a good that all consumers in a partic­ular market want and are able to buy as price varies and as all other factors are assumed constant. Market demand depends not only on the factors affecting individual demands, but also on the number of consumers in the market. The law of demand also works with market demand.

Задание 2. Выпишите из каждого предложения текста грамматическую основу (подлежащее+ сказуемое), определите видовременную форму глагола и залог, определите начальную форму глагола.

Задание 3. Задайте вопросы к первому предложению:

· общий

· специальный

· к подлежащему

· альтернативный

разделительный

Задание 4. Выберите правильную форму причастия из предлагаемых в скобках вариантов, определите функцию и переведите пред­ложения на русский язык.

1. Market is an (organizing / organized) group of buyers and sellers of a particu­lar good who are in contact with each other and who know the level of demand and supply so that there is only one price (calling/called) the market price.

2. Changes in prices of the products (producing / produced) with the same resources will change the supply.

3. The economist is interested in factors (affecting/affected) the alloca­tion of resources for producing particular goods.

4. Excess supply is a situation in which, at a certain price, the quantity of a particular product (demanding/ demanded) by buyers is less than the quantity (supplying/supplied) by industry.

5. Improvements in technology may be a factor (leading to / led to) chang­es in supply.

6. At constant prices, an increase in income leads to an (increasing/ in­creased) consumption.

7. Every day in thousands of markets, consumers show which goods they prefer (making /made) practical choices and (spending /spent) money on some particular goods rather than others.

Задание 5. Найдите в тексте неличные формы глаголов (герундий, причастие настоящего времени, причастие прошедшего времени, отглагольное существительное, инфинитив, сложное подлежащее, сложное дополнение) и выпишите их.

ВАРИАНТ 4

1. Прочитайте и переведите письменно текст на русский язык.