Demand refers to the quantity of a good or service that consumers are willing and able to purchase at various prices and within a given period. It represents the desire for a product or service backed by the financial ability to make the purchase

Die Nachfrage bezieht sich auf die Menge einer Ware oder Dienstleistung, die Verbraucher bereit und in der Lage sind, zu unterschiedlichen Preisen und innerhalb eines bestimmten Zeitraums zu kaufen. Es stellt den Wunsch nach einem Produkt oder einer Dienstleistung dar, der durch die finanzielle Fähigkeit zum Kauf gestützt wird

Gross domestic product

is the standard measure of the value added created through the production of goods and services in a country during a certain period

ist das Standardmaß für die Wertschöpfung, die durch die Produktion von Waren und Dienstleistungen in einem Land in einem bestimmten Zeitraum geschaffen wird

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The science that studies how to satisfy unlimited needs and wants with limited resources

Die Wissenschaft, die untersucht, wie man mit begrenzten Ressourcen unbegrenzte Bedürfnisse und Wünsche befriedigen kann

1. Supply

2. Demand

The following graphic shows the curve of supply

erhöht Preise und Waren

That mean that the prices of products will grow and when a special product is not available the prices will increase and a other product will be interesting

When the demand of a good or services is higher than the quantity supplied on the market

Wenn die Nachfrage nach einer Ware oder Dienstleistung höher ist als die auf dem Markt angebotene Menge

Mangel

Wettbewerbsmarkt

1.Many buyers and sellers

2.Same good or service

3.The supply and demand model is a model of howa competitive market works

1.Demand curve

2.Supply curve

3.Demand and supply curve shifts

4.Market equilibrium

5.Changes in the market equilibrium

1. Nachfragekurve

2. Angebotskurve

3. Verschiebungen der Nachfrage- und Angebotskurve

4. Marktgleichgewicht

5. Veränderungen im Marktgleichgewicht

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Nachfrageelastizität

Elasticity of demand is a measure of how sensitive the quantity demanded of a good or service is to changes in certain factors, typically the price of that good or service. It helps to quantify the responsiveness of consumer demand to changes in price.

– Demand is elastic

• Price elasticity of demand > 1

– Demand is inelastic

• Price elasticity of demand < 1

– Demand has unit elasticity

• Price elasticity of demand = 1

Die Nachfrage ist elastisch

• Preiselastizität der Nachfrage > 1

– Die Nachfrage ist unelastisch

• Preiselastizität der Nachfrage < 1

– Die Nachfrage hat eine Einheitselastizität

• Preiselastizität der Nachfrage = 1

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Macroeconomics is a branch of economics that studies the behavior and performance of an economy as a whole. It focuses on large-scale economic phenomena, including national income, unemployment rates, inflation, economic growth, and overall economic stability. Macroeconomics analyzes the aggregate effects of individual economic decisions and policies, seeking to understand and influence factors that impact the functioning of an entire economy.

Die Makroökonomie ist ein Zweig der Wirtschaftswissenschaften, der das Verhalten und die Leistung einer Volkswirtschaft als Ganzes untersucht. Der Schwerpunkt liegt auf großen wirtschaftlichen Phänomenen, darunter Volkseinkommen, Arbeitslosenquoten, Inflation, Wirtschaftswachstum und allgemeine Wirtschaftsstabilität. Die Makroökonomie analysiert die Gesamtwirkung einzelner Wirtschaftsentscheidungen und -politiken und versucht, Faktoren zu verstehen und zu beeinflussen, die sich auf das Funktionieren einer gesamten Wirtschaft auswirken.

• Economic growth ultimately determines the prevailing standard of living in acountry

• Unemployment, as measured by the unemployment rate, is the percentageof people in the labor force who do not have a job

• Inflation is a sustained increase in the overall level of prices

The theory they use in the Macroeconomic is supply and demand

National governments have two sets of tools for influencing themacroeconomy:

• Monetary policy, which involves managing the interest rates and the availability ofcredit.

• Fiscal policy, which involves changes in government spending/purchases and taxes

If we know that GDP is the measurement of everything that is produced, weshould also ask the question, who buys all of this production? This demand canbe divided into four main parts:

1. Consumer expenditure (consumption)

2. Investment expenditure

3. Government expenditure on goods and services

4. Net export expenditure

1. Konsumausgaben (Konsum)

2. Investitionsausgaben

3. Staatsausgaben für Waren und Dienstleistungen

4. Nettoexportausgaben

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Gross National Product

Bruttosozialprodukt

Net National Product

Nettosozialprodukt

the process by which capital ages and loses value

Abschreibung

an economic statisticmeasured using actual market prices

nominal values are not adjusted forinflation

contrast with real value

Nennwert

eine Wirtschaftsstatistik, die anhand tatsächlicher Marktpreise gemessen wird; d. h. Nominalwerte werden nicht an die Inflation angepasst; im Gegensatz zum tatsächlichen Wert

an economic statisticmeasured after it has been adjusted for inflation and contrast with nominalvalue

eine Wirtschaftsstatistik, die gemessen wird, nachdem sie an die Inflation angepasst wurde; Gegensatz zum Nominalwert

Realer Wert

Demotivierte Arbeiter

hose who have stopped looking for employment dueto the lack of suitable positions available

Aus dem Arbeitsmarkt

those who are not working and not looking for work –whether they want employment or not; also termed “not in the labor force”

individuals who are employed in a job that is below theirskills

out of work andactively looking for a job

the percentage of adults who are in the labor forceand thus seeking jobs, but who do not have jobs

𝑒𝑚𝑝𝑙𝑜𝑦𝑚𝑒𝑛𝑡 𝑟𝑎𝑡𝑒 = 𝑈𝑛𝑒𝑚𝑝𝑙𝑜𝑦𝑒𝑑𝑝𝑒𝑜𝑝𝑙𝑒 / 𝑇𝑜𝑡𝑎𝑙𝐿𝑎𝑏𝑜𝑟𝐹𝑜𝑟𝑐𝑒 x 100

the average price of the goods and servicestypically purchased by urban consumers

The Eight Major Categories in the Consumer Price Index

1. Food and beverages

2. Housing

3. Apparel

4. Transportation

5. Medical Care

6. Recreation

7. Education and communication

8. Other goods and services

he percentage change in some price index

Marktkorb

hypothetical collection of goods and services (or moreprecisely, the quantities of each good or service) consumers typically buy

Inflation can cause three types of problems:

1. Blurred price signals

2. Unintended redistributions of purchasing power

3. Difficulties in long-term planning

An annual inflation rate of 2%, 3%, or 4% is a long way from a national crisis

• If variability in inflation rates is a problem, then moderate and high inflations are more likely to have significant variability than are low inflations

version of the CPI excluding volatile economic

components like energy and food prices

The CPI tends to understate consumers’ standard of living, as measured by nominal income

calculation:

A core inflation index so the CPI is typically calculated by taking the CPI and excluding volatile economic variables.

price index which measures the average price of all goods and services included in GDP; used to convert nominal into real GDP.

𝑅𝑒𝑎𝑙 𝐺𝐷𝑃 = 𝑁𝑜𝑚𝑖𝑛𝑎𝑙 𝐺𝐷𝑃 / 𝐺𝐷𝑃 𝐷𝑒𝑓𝑙𝑎𝑡𝑜𝑟

Deflator = ∑ (GDP / realGDP)*100


Inflation = ((Deflator(this year) / Deflator(previous year) ) - 1) * 100

The GDP tries to include all goods and services produced in a country including the hidden (it operates in the informal or underground economy like getting paid by cash without declaring it) and part of the illegal activities products

1. Quantity

2. Price

something that encourages or motivates a person to take on an action

the additional benefits. This talks about the benefits that are connected with consuming an additional good or service or undertaking another unit of activity.

Die zusätzlichen Vorteile. Dabei geht es um die Vorteile, die mit dem Konsum einer zusätzlichen Ware oder Dienstleistung oder der Durchführung einer anderen Aktivitätseinheit verbunden sind.

the value of the thing we give up when making a decision

shows how much of a good or service consumers will want to buy at different prices.

you are considering buying a new leather jacket for the winter. The jacket costs 800 euros. The marginal benefits are that it is a good quality, it will last for a long time and it will warm you up when it’s cold.

This talks about the additional costs connected with consuming an additional unit of goods or services or undertaking another unit of activity.

Hierbei handelt es sich um die zusätzlichen Kosten, die mit dem Verbrauch einer zusätzlichen Waren- oder Dienstleistungseinheit oder der Durchführung einer anderen Aktivitätseinheit verbunden sind.

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he study of what should be in economics

the branch of economics that deals with people's behavior and choices as they relate to relatively small units. (individual, firm, industry, single market)

shows how much of a good or service consumers will want to buy at different prices.

a graphical representation of the demand schedule. Shows how much of goods or services a person will buy at any given price.

s a change in the quantity demanded of a good due to a change in the price of that good.

Es handelt sich um eine Änderung der nachgefragten Menge eines Gutes aufgrund einer Änderung des Preises dieses Gutes.

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an increase in demand means that the demand curve will move ahead. At any given price, consumers demand a larger quantity than before. A decrease of demand means a leftward shift of the demand curve.

Ein Anstieg der Nachfrage bedeutet, dass sich die Nachfragekurve vorwärts bewegt. Verbraucher verlangen zu jedem Preis eine größere Menge als zuvor. Ein Rückgang der Nachfrage bedeutet eine Verschiebung der Nachfragekurve nach links.

coffee and tea for example

peanut butter and jelly

When a rise in income increases the demand for a good, that good is a normal good

This are live needs products so that means for example Clothes or Food and fuel for people withe a car

shows how much of a good or service will be supplied at different prices.

shows how much of a good or service people are willing to sell at any given price.

a situation where producers or suppliers are willing and able to offer more of a particular good or service in the market at various price levels (the curve moves to the right).

A shift of the supply curve is a change in the quantity supplied of a good at any given price

in a competitive market is when the quantity demanded of goods equals the quantity supplied of the goods.

this case happens when the quantity demanded is more than the quantity supplied. Shortage occurs when the price is below the equilibrium level.

End value - start value

__________________ X 100= percentage %

Start value

are statistics that measure one or more aspects of the macro economic. (measures of aggregate production, GDP, employment and unemployment, inflation).

the sum of the inflation and unemployment rates as a measure of how bad the economy is.

which involves managing the interest rates and the availability of credit

which involves changes in government spending/purchases and taxes

When we only have the inflation rate, to calculate the R-GDP we need to take the Nom- GDP of that year and divide it by the inflation rate (the %). 
 To transform the % in numbers we divide the % number by 100. (3%= 3/100= 0.03)
 To make it a whole number that we can calculate we add 1. (0.03+1= 1.03).

an extremely high rate of inflation, in the 100s or 1000s percent per year. Hyperinflation takes this concept of inflation to an extreme level, where prices can rise uncontrollably and at an extremely rapid pace

price index based on prices paid for supplies and inputs by producers of goods and services.

Price elasticity of demand= percentage change in Qd / Percentage change in P

(% Change in Quantity Demanded) / (% Change in Price)

he midpoint is the number halfway between the start and end values

Q1 + Q2 / 2= midpoint Qd

P1 + P2 / 2= midpoint price

1. As one good or service becomes more expensive relative to others, consumers tend to substitute away from the more expensive item towards the cheaper item

The averge of cost for people how are not working so that menas everx cost for exampkle income wages and other tings

1.Employed people

2.Unemployed people

It represents the total value of goods and services produced in an economy during a specific time period, usually a year, using the prices that were prevailing at the time those goods and services were produced, without adjusting for inflation. is the raw, unadjusted measure of an economy's output. If prices increase over time (inflation), the nominal GDP can increase even if the actual quantity of goods and services produced remains the same. 


measure of the Gross Domestic Product (GDP) that has been adjusted for inflation. It represents the total value of goods and services produced in an economy during a specific time period, usually a year, using constant prices from a base year. Real GDP is used to measure the actual, inflation-adjusted growth or change in an economy's output, providing a more accurate picture of economic performance over time.

Entrepreneurs are people who develop the resources that we have to produce goods and services. They take for example financial risks by using their personal money or loans to produce these goods and services. Some of them do that for personal gain, selling their goods. Some others do it to create non-profit organizations that help society.

end value - start value : Midpoint x 100

You can do it for price and also for quantaty

So that means an increase in supply and we can see at in the apple example

So when the new iphone come to the market the generation before will have a higer quantity then before because they think to sellmore of it so they offer a lot of old iphones