Cầu và cung

Demand (n)
Influence (n)
Specific (adj)
Quantity (n)
Quantity demanded (n)
Quantity supplied (n)
Shift factors (n)
Shift (v)
Demand curve (n)
Supply curve (n)
Terminology (n)
Movement along (v)
illustrate (v)
Willing (adj)
Equilibrium (n)
Tendency (n)
Occur (v)
Graph (n)
Intersect (v)
Excess (adj)
Horizontal (n)

/dɪˈmænd/
/ˈɪnfluəns/
/spəˈsɪfɪk/
/ˈkwɑːntəti/
/ˈkwɑːntəti/ /dɪˈmænd/
/ˈkwɑːntəti/ /səˈplaɪ/
/ʃɪft/ /ˈfæktər/
/ʃɪft/

/dɪˈmænd/ /kɜːrv/
/səˈplaɪ/ /kɜːrv/
/ˌtɜːrməˈnɑːlədʒi/
/ˈmuːvmənt/ /əˈlɔːŋ/
/ˈɪləstreɪt/
/ˈwɪlɪŋ/
/ˌiːkwɪˈlɪbriəm/
/ˈtendənsi/
/əˈkɜːr/
/ɡræf/
/ˌɪntərˈsekt/
/ɪkˈses/
/ˌhɒrɪˈzɒntl/

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Demand and supply
I.Summary:
Unit 5 is about supply and demand. There are some main ideas.
Firstly, it talks about the demand.
Demand describes how price influences buyer behavior.
The law of demand: when we holding other factors are constant. If
the price of a good increase, the quantity demanded will decrease and
vice versa.
A change of price causes a movement along a given demand curve.
The shift factors of demand causes the shift of the entire demand
curve.
Secondly, it talks about the supply.
Supply describes how price influences seller behavior.


Demand and supply
The law of supply: when we holding other factors are constant, if the price
of a good increase, the quantity supplied will increase and vice versa.
A change of price causes a movement along a given supply curve.
The shift factors of supply causes the shift of the entire supply curve.
Finally, it talks about the relationship between demand curve and supply
curve.
Equilibrium is the point where the quantity demanded equals the quantity
supplied.

II. Answer the short question:
1. What is the demand?
→ Demand is the quantity of goods and services, the buyers are


Demand and supply
willing to buy at every price level.
2. What is the supply?
→ Supply is the quantity of goods and services, the sellers are willing to sell at
every price level.
3. What is the quantity demanded?
→ The quantity demanded is the quantity of goods and services, the buyers are
willing to buy at specific price.
4. What is the quantity supplied?
→ The quantity supplied is the quantity of goods and services, the sellers are
willing to sell at specific price.
5. What factor causes the movement along a given demand curve (or supply
curve)?
→ The change of price of the good causes the movement along


Demand and supply
a given the demand curve (or supply curve).
6. What are the shift factors of demand?
→ They are: consumer’s income, the prices of other goods, taste, buyers’
expectation.
7. What are the shift factors of supply?
→ They are: the prices of inputs, technology, taxes, suppliers’ expectation.
8. What is the equilibrium? Is the equilibrium constant?
→ Equilibrium is the point where the quantity demanded equals the

quantity supplied.
Equilibrium isn’t constant because the supply curve and demand curve can
change.


Unit 5: Demand and supply
9. When is a market in equilibrium?
→ The market in equilibrium when there is no reason for the market price of
the product to raise or to fall.
10. When the quantity demanded is more than (or less than) the quantity
supply, how the rice change?
→ When the quantity demanded is more than quantity supply, there is a
shortage, so the price will increase.
When the quantity demanded is less than the quantity supply, there is a
surplus, so the price will decrease.
11. Demand curve is a simply graph that shows the price influences on
buyers behavior.
12. Supply curve is a simply graph that shows the price influences on sellers
behaviors.


Unit 5: Demand and supply
III. Answer the long question:
1. What are the roles of demand and supply?
→ Demand and supply play a central role in the economy.
It’s important to understand how the economy operate.
How people, governments and businesses can use them to analyze decisions about
price and quantity.
Demand and supply influences the decisions of Government, such as: minimum
wage, prices support, production incentive,...

It helps the Government determined how taxes subsidized tariff.
2. What are the advantages and disadvantages of the excess demand and excess
supply?
→ When the quantity demanded is more than the quantity supplied, there is a
shortage. So, the price of good will increase.


Demand and supply
Advantages: it helps the companies make more profit and it
promote production.
Disadvantages: it restricts consumption and it may result inflation.
When the quantity demanded is less than quantity supplied, there is
a surplus. So, the price of goods will reduce.
Advantages: it’s helpful for consumers. They have to pay less
money for goods and services. So, it encourages the consumption.
Disadvantages: profits of businesses will reduce and it should not
promote production.