Seconde Européenne Economics and Sociology

Seconde Européenne Economics and Sociology

Demand

Correction Version 2019 2020

Question 1

The demand curve shows/illustrates what happens to the quantity demanded when price changes and there is no change in any of the other factors influencing demand (such as income, taste and fashion): tel que les revenus/ le gout et la mode). Demand curves slope down/away (descend en pente)  from left to right. Figure 2 shows a typical demand curve.[pic 1]

At a price of £10 the quantity demanded would be 30 (pour un prix de 10 livres sterling, 30 articles seraient demandés). If price falls to £6, quantity demanded would rise to 80 (si le prix tombe à 6 livres, le nombre d’articles demandés passerait à 80).  

Alternatively (alternatively: sinon; or alternatively: ou sinon)) the demand curve can be used to find the maximum price consumers are willing (disposés) to pay for a given quantity (pour une quantité demandée).

Figure 2 /diagram 2/AI  shows that the maximum consumers are willing (sont disposés/désireux) to pay for 80 units is £6.

The demand curve also shows the price at which the product would be priced out of the market. At £15 none of the product would be demanded (aucun de ces produits ne serait demandé). If the product were to be provided free (si le produit devait être fourni à titre gratuity), 200 units would be demanded (200 unités devraient être demandés).

Question 2

The demand curve shows/illustrates the quantity demanded that depend on the price of the item/AI/ article. If an item is priced at seven pounds (si un article coute 7 livres) , consumers’ expenditure would amount (se monterait à) to approximately £ 350 (7 times 50 equals 350: 7 fois  50 égal 350).

Question 3

Various factors can cause a change in demand and thus (ainsi) a shift in the demand curve (un changmenent de la courbe de la demande).

1. Changes in disposal income (changements de revenus disponibles): For most commodities (pour la plupart des articles/ des denrées)  a very important influence is the level of incomes (le niveau des revenus), in particular the level of real, disposable incomes. Disposable income (les revenus disponibles) is income after direct taxes have been deducted from it (déduits de cela) and state benefits (allocations versées par l’état) have been added (ont été ajoutées). Real income is actual money (nominal) income adjusted for inflation. For example if money incomes rise by 5% , but over the same time period (mais pendant la même période) prices rise by 10% (les prix augmentent de 10%, mais au cours de la même période les prix augmentent de 10 pourcent), real income will have fallen (aurai diminué) and this means that people’s ability to buy (pouvoir d’achat) things is reduced.

1. A change in the distribution of income (un changement de la répartitition). If income becomes more unevenly distributed (distribuée de façon inégale), demand for luxury products will increase and demand for basic necessities/bare necessities (les choses essentielles), such as (tel que) heating (chauffage) and bread, will decrease as poorer people struggle to find money for these products.

1. Changes in the prices of related goods and services (les changements des prix des biens et services qui ont un lien entre eux): many goods and services have substitutes (produits de substitution/succedanés/ersatz). People are influenced in their purchases (achats) by the relative prices of competing (qui sont en concurrence)  goods and services. For example, if the price of butter fell, the demand for margarine is likely to decrease (il est possible que la demande pour la margarine baisse). An increase in the fares on public transport (une augmentation du prix des billets/ tickets des transports en commun) might increase the demand for private transport. So a change in the price of a substitute (produit de substitution/ succédané) will move the demand curves for competing goods and services. The demand for some goods and services will be affected by changes in the prices of complementary goods and services. Products are complementary (complémentaire) when they are jointly demanded (sont conjointement demandés), the use of one requiring the use of the other (l’utilisation de l’un a besoin de l’utilisaition de l’autre). The demand for videos is linked to the (est lié) demand for video recorders (vidéo enregistreurs); the demand for petrol is associated directly with the demand for motor cars (directement liée à la demande de voiture). Thus a sharp increase in the price (ainsi une augmentation brusque/brutale des prix)  of motor cars might cause the demand for petrol to fall.

1. Changes in taste and fashion (les changements de gout et de la mode): the demands for some goods and services are very susceptible to changes in taste and fashion (changements de gout et de mode). Particularly affected are the clothing trades (la vente de vêtement), but industries producing furniture, processed foods (les aliments transformés) and beverages (les boissons) are also subject to movements in taste and fashion (sujets à des changements en matiére de gout et de mode).

1. Peer group pressure (le groupe de pression composé des pairs/ des personnes de la même génération/ des enfants du même âge) can influence demand for products. For example, many youngsters (jeunes/ enfants) influenced by their friends, buy, or have bought for them, mountain bikes (VTT)  rather than ordinary bikes.

1. Advertising (publicité) is a powerful instrument affecting demand in many markets. Its aim (son but), quite clearly, is to move the product’s demand curve to the right and at the same time move the demand curves for competing products to the left

1. The availability of credit (la possibilité d’obtenir des credits): If it becomes easier or cheaper to borrow, demand for a range of goods and services (une gamme de biens et de services) will increase (augmentera), for example, houses, furniture and cars

1. Changes in population size (changement de la taille de la population):  An increase in population will increase demand for most goods and service (pour la plupart des biens et services).

1. Changes in the age structure of population: the UK, most of Europe, Japan, the USA and a number of other countries are currently (actuellement/ en ce moment) experiencing the development of an ageing population (le vieillissement de la population). They have more elderly people (plus de personnes agées) in their populations and those elderly people (ces personnes agées) are living longer. This results in an increase in demand (cela a pour resultat une augmentation de la demande) for health care (soins médicaux/ protection contre les maladies), residential care and holidays specifically designed for the elderly (spécialement conçus pour les personnes agées).

1. Weather: Changes in weather conditions can affect demand for some goods and services. For example, a period of hot and dry weather may increase (peut augmenter) demand for suntan lotion (lotion solaire), barbecues, ice creams and lager (biére blonde) whereas it may cause a decrease in demand for heating, umbrellas and hot drinks (tandis qu’il peut causer une augmentation de la demande  pour le chauffage; les parapluies et les boissons chaudes).

; demand exceeds availability la demande est supérieure à l'offre.

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