about it. Using real-life examples from around the world, using the minimum of mathematics and including simple graphs, he provides insights into economics from psychology and sociology to explain economic behaviour and rational choice. An ideal introduction for anyone interested in business and ...
It should be noted the laws of many countries define a monopoly in less extreme terms, usually referring to firms that have more than a specified share of a market. Unlike perfect competition, monopolies can and do arise in real life. This may be because the producer has a statutory right...
5.in real life more complicated forms are used, but basic idea is the same D.Implications ofMRScondition 1.why do we care thatMRS= - price ratio? 2.if everyone faces the same prices, then everyone has the same local trade-off between the two goods. This is independent of income and ...
Studying this course will help students form their economic thinking ability, understand most economic behaviors in real life, and use these methods to analyze some economic decisions in reality. By focusing on economic hot events, and related social issues, students can use their theoretical knowledg...
For one-semester courses in Principles of Microeconomics. This easy to read, accessible text engages students with familiar real-world examples and applications that bring economics to life. The authors follow an Explore & Apply theme to show students how economics is a part of their everyday li...
In real life a manufacture wants to know how much of the various factors or inputs that is land, natural resources,labour and capital will be required to produce a unit or a given quantity of a commodity during a given period of time. It is necessary for him (manufacture) to know this...
while firms in the face of a radically uncertain future, motivated by subjective expectations of profits, made investment decisions. Interest rates, representing the opportunity cost of real capital relative to financial assets were an important determinant of investment; while income was the most impor...
But real markets are imperfect. In this course we will explore a set of market imperfections to understand why they fail and to explore possible remedies including as antitrust policy, regulation, government intervention. Examples are taken from everyday life, from goods and services that we all...
Microeconomics is critical to daily life even in ways that may not be evident to those engaging in it. Take the case of someone who's looking to buy a car. Microeconomic principles play a central role in individual decision-making. They'll likely consider various incentives such as rebates o...
Microeconomics is critical to daily life, even in ways that may not be evident to those engaging in it. Take, for example, the case of someone who is looking to buy a car. Microeconomic principles play a central role in individual decision-making. They will likely consider various incentives...