Английский для экономистов и менеджеров. Ульянова О.В - 37 стр.

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DEMAND AND SUPPLY
Demand is the quantity of a good that buyers wish to buy at certain
price. Other things equal*, at low prices the demanded quantity is higher.
Supply is the quantity of a good that sellers wish to sell at certain price.
Other things equal, when prices are high, the supplied quantity is high as
well.
The market is in equilibrium when the price regulates the quantity sup-
plied by producers and the quantity demanded by consumers. When prices
are not so high as the equilibrium price, there is excess demand (shortage)
raising the price. At prices above the equilibrium price, there is excess supply
(surplus) reducing the price.
There are some factors influencing demand for a good, such as the pric-
es of other goods, consumer incomes and some others.
An increase in the price of a substitute good (or a decrease in the price
of a complement good) will at the same time raise the demanded quantity. As
consumer income is increased, demand for normal goods will also increase
but demand for inferior goods will decrease. A normal good is a good for
which demand increases when incomes rise. An inferior good is a good for
which demand falls when incomes rise.
As to supply, some factors are assumed* as constant. Among them are
technology, the input price, as well as degree of government regulation. An
improvement in technology is as important for increasing the supplied quan-
tity of a good as a reduction in input prices.
Government regulates demand and supply, imposing ceiling prices
(maximum prices) and floor prices (minimum prices) and adding its own
demand to the demand of the private sector.
*other things equal – при прочих равных
*to assume — принимать
Vocabulary
to supply smb with smth – поставлять
что-либо кому-либо
to supply smth to smb – снабжать кого-либо чем-либо
substitute good – товар-заменитель (спрос на который изменяется в
противоположном направлении по сравнению со спросом на другой
товар, цена на который изменилась)
complement good – товар-дополнение (спрос на который изменяется
в том же направлении, что и спрос на некоторые другие товары, це-
ны на которые изменились)
normal good
– товар стандартного качества

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