TEORI PERMINTAAN DAN TEORI PENAWARAN - EKONOMI MANAJERIAL

Keke Tamara Fahira

2 Oct 202114:40

Summary

TLDRThis video discusses the theory of demand and supply within the context of managerial economics. It explains how various factors like consumer income, preferences, and the price of substitute or complementary goods influence demand. The presenter also covers the law of demand, illustrating how price changes affect the quantity demanded. Similarly, the supply theory is examined, detailing how production costs, technology, and market prices impact supply. The video emphasizes the importance of understanding these concepts for making effective managerial decisions.

Takeaways

🛍️ The concept of demand refers to the quantity of goods and services that consumers are willing to purchase in a market at a certain price, income level, and over a specific time period.
📈 Consumer demand is influenced by factors such as product price, consumer income, competitor availability, and consumer preferences.
💡 Individual demand is determined by two factors: the value of the product to the consumer and the consumer's ability to acquire the product.
🏷️ Effective demand refers to the demand for goods that is accompanied by the ability to pay, while absolute demand lacks purchasing power.
📉 The law of demand states that as the price of a product decreases, the quantity demanded increases, and vice versa.
🛠️ Market demand is the aggregation of individual demands and is affected by strategic variables (like price, quality, and advertising), consumer factors (like income and preferences), and competitor factors.
🔄 Demand curves generally slope downwards from left to right, representing the inverse relationship between price and quantity demanded.
🛒 Goods can be categorized into substitutes, complements, and neutral goods based on their relationship with other products.
⚙️ Shifts in demand curves can occur due to changes in factors other than price, such as income, population growth, or consumer expectations.
📊 The supply curve illustrates a direct relationship between the price of goods and the quantity supplied, where higher prices lead to higher supply.

Q & A

What is the definition of market demand?
-Market demand refers to the total quantity of goods and services that consumers are willing to buy at a certain price level, given their income levels, within a specific period.
What are the two main factors determining individual demand?
-The two main factors determining individual demand are the value or benefit derived from acquiring and using the goods and services, and the ability to obtain them.
How is individual demand related to consumer behavior theory?
-Individual demand is tied to consumer behavior theory, which examines how individuals demand goods that satisfy their personal desires. These goods are often intermediary products that help produce or distribute other products.
What is the difference between effective demand and absolute demand?
-Effective demand refers to the desire for goods combined with the ability to pay for them, while absolute demand refers to the desire for goods without the ability to pay.
What is the law of demand?
-The law of demand states that as the price of a good decreases, the quantity demanded increases, and as the price increases, the quantity demanded decreases.
What factors affect market demand?
-Market demand is influenced by various factors such as consumer income levels, preferences, the price of related goods (substitutes and complements), advertising, product quality, and external factors like government policies and weather.
What are the three types of relationships between goods in the market?
-The three types of relationships are substitute goods, which can replace each other (e.g., gas and kerosene); complementary goods, which are used together (e.g., sugar and coffee); and neutral goods, which have no relationship (e.g., rice and notebooks).
What happens to demand when consumers anticipate a future price increase?
-When consumers expect prices to increase in the future, demand for the product rises in the present as they try to buy the product before the price hike.
How does the demand curve typically behave, and why?
-The demand curve generally slopes downward from left to right because there is an inverse relationship between price and quantity demanded: as the price of a good increases, demand decreases, and vice versa.
What is the main concept of supply theory?
-Supply theory asserts that the quantity of goods offered by producers increases when prices rise and decreases when prices fall, assuming other factors remain constant.

Outlines

00:00

📊 Introduction to Demand and Supply Theories

This paragraph introduces the topics of demand and supply theories, focusing on managerial economics. It defines demand as the quantity of goods and services requested in a specific market, at certain prices, income levels, and within a set time period. Factors influencing demand include the price of goods, availability of substitutes, consumer income, and preferences. The paragraph also highlights the importance of understanding individual demand, which is influenced by two factors: the utility or value of a product and the ability to obtain it. Additionally, individual demand is explained through the theory of consumer behavior, often related to intermediate goods used for further production, such as labor or machinery in industries.

05:01

🔍 Effective vs. Absolute Demand and Market Variables

This section delves into the concepts of effective and absolute demand. Effective demand refers to the demand for a product supported by the ability to pay, while absolute demand lacks this financial backing. The paragraph emphasizes the importance of understanding market demand, which aggregates individual demands. It identifies key variables affecting demand, including strategic, consumer, competitive, and external variables such as government policies, income levels, and population growth. The text also introduces the relationship between goods, categorizing them as substitutes, complements, or neutral goods, and explains how these relationships impact demand patterns.

10:04

📈 Demand Curves, Law of Demand, and Influences on Consumer Behavior

This paragraph focuses on the demand curve and the law of demand, which states that lower prices lead to higher demand and vice versa. The demand curve slopes downward, reflecting this inverse relationship. Key concepts such as shifts along the demand curve due to price changes and the impact of other factors (non-price variables) on demand are discussed. The paragraph explains how the curve shifts when these factors change and provides examples such as population growth, consumer preferences, and income levels. The importance of managerial decisions based on demand data is also highlighted.

🚗 Demand Function and Market Predictions

This part illustrates the use of a demand function to predict market behavior, particularly in the automobile industry. It details a specific demand function that takes into account factors like price, income, population, and advertising. The paragraph explains how these variables are used to calculate expected demand and how changes in these factors, such as a rise in disposable income or population, influence the demand for cars. The importance of understanding these relationships for effective decision-making in business is emphasized.

💡 Using Demand Functions to Forecast Industry Demand

This paragraph expands on the demand function for forecasting industry demand, again using the example of cars. It provides a specific formula to estimate future demand, based on factors like income, population, credit availability, and advertising. The calculations lead to a prediction of how many units will be sold, demonstrating how businesses use such models to anticipate market changes. The paragraph stresses the importance of understanding these relationships for pricing strategies and long-term planning.

📉 Supply and Demand Equilibrium: Understanding Shifts

This section discusses the concept of supply and demand equilibrium. It explains the shifts in demand and supply curves, identifying factors that cause these shifts, such as changes in income, consumer preferences, or production costs. The equilibrium point, where demand meets supply, is highlighted as crucial for determining price and quantity in the market. The paragraph also describes excess demand (when demand exceeds supply) and excess supply (when supply exceeds demand), explaining how these imbalances correct themselves over time.

🛠 Supply Function and Factors Affecting Supply

This final paragraph introduces the supply function and its relationship to price, stating that an increase in price generally leads to an increase in supply. It identifies factors influencing supply, including the price of goods, production costs, technology, and business objectives. A supply curve is discussed, showing the direct relationship between price and quantity supplied. The paragraph also covers shifts in the supply curve caused by non-price factors, such as technology improvements or changes in production costs, and emphasizes the balance between supply and demand in determining market outcomes.

Mindmap

Keywords

💡Demand Theory

Demand theory refers to the study of how consumer demand for goods and services is influenced by various factors such as price, income, and preferences. In the video, it is emphasized as a critical concept for managerial economics, explaining how businesses make decisions based on market demand. For example, demand is influenced by the consumer's ability and desire to purchase goods at different price levels.

💡Supply Theory

Supply theory examines how producers decide the quantity of goods to supply at different price points. It works in contrast to demand theory, where a rise in prices usually leads to an increase in the quantity supplied. The video discusses this as a fundamental aspect of understanding market dynamics in managerial decision-making, particularly in how price changes affect the supply of goods.

💡Effective Demand

Effective demand is the demand for goods backed by the ability to pay for them. The video highlights this as a key distinction from 'absolute demand,' which is demand that isn't accompanied by purchasing power. Effective demand is crucial for businesses to forecast how much of a product will realistically be bought.

💡Price Elasticity

Price elasticity refers to the responsiveness of the quantity demanded to changes in price. In the context of the video, the concept is indirectly explained through the 'law of demand,' which suggests that as prices decrease, demand increases, and vice versa. This idea helps in understanding consumer behavior and making pricing decisions.

💡Substitute Goods

Substitute goods are products that can replace each other in use, like gas and kerosene. The video discusses substitutes in the context of consumer behavior, stating that when the price of one good rises, consumers will switch to a cheaper alternative. This is vital for understanding competitive market dynamics.

💡Complementary Goods

Complementary goods are products that are used together, such as sugar and coffee. The video mentions that demand for one complementary good often influences the demand for the other, as their use is interconnected. Understanding these relationships helps businesses manage product bundles and pricing strategies.

💡Market Demand Curve

The market demand curve is a graphical representation of the relationship between the price of a good and the quantity demanded by consumers. The video explains that the demand curve slopes downward, showing that lower prices lead to higher quantities demanded. This curve helps visualize consumer behavior across different price levels.

💡Income Effect

The income effect describes how changes in consumers' real income affect their purchasing decisions. In the video, it’s highlighted that higher consumer income can lead to increased demand for various goods. This concept plays a role in understanding how economic changes impact consumer spending habits.

💡Marginal Utility

Marginal utility refers to the additional satisfaction or usefulness obtained from consuming one more unit of a product. In the video, this concept is used to explain how consumers make decisions on increasing their consumption of goods when their utility or satisfaction from the product is high. It’s essential for pricing and product strategy.

💡Equilibrium

Equilibrium is the point where the quantity of goods demanded equals the quantity supplied, resulting in a stable market price. The video touches on this when discussing how markets reach a balance between consumer demand and producer supply, which is essential for understanding pricing strategies and market dynamics.

Highlights

Introduction to the theory of demand and supply in managerial economics, emphasizing the role of market demand in decision-making.

Definition of demand: The quantity of goods and services demanded in a market at a specific price level, income level, and time period.

Key factors influencing demand include the price of goods, availability of substitutes, consumer income, preferences, and other external factors.

Individual demand is influenced by the utility derived from goods and the ability to acquire them, linked to consumer behavior theory.

Individual demand often stems from derived demand, such as labor or machinery used for production and distribution rather than direct consumption.

Effective demand refers to demand backed by the ability to pay, while absolute demand lacks this purchasing power.

Market demand is a summation of individual demands and is affected by four key variables: strategic, consumer, competitor, and external factors.

Strategic variables affecting demand include the price, advertising, product quality, design, and distribution channels.

Consumer variables include income, preferences, and expectations, while competitor variables include substitute and complementary goods.

The law of demand: As the price of a good decreases, the quantity demanded increases, and as the price increases, the quantity demanded decreases.

A demand curve typically slopes downward, representing the inverse relationship between price and quantity demanded.

Movements along the demand curve are caused by price changes, while shifts in the demand curve are caused by non-price factors like income changes.

Substitute goods, complementary goods, and neutral goods play different roles in demand shifts depending on their relationship with the product.

Supply theory: There is a direct relationship between supply and price; as price increases, the quantity supplied increases.

Supply and demand equilibrium occurs where the quantity supplied equals the quantity demanded, establishing a market balance.