» Từ khóa: economic policies

Chapter 1A - Graphs and their meaning. This appendix helps in understanding graphs, curves, and slopes as they relate to economics. It demonstrates how relationships between variables can be examined and how an equation that expresses that relationship can be derived.

 12 p hce 28/04/2016 157 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Construction of a graph, Nonlinear curve

This chapter introduces many of the fundamental concepts in economics and covers a wide variety of concepts. It begins with the definition of economics; then the economic perspective is discussed. After that, the discussion moves to the development of economic theory. The individual’s and society’s economizing problems are examined using a budget line and production possibilities curves where economic growth is addressed. The Last Word...

 15 p hce 28/04/2016 433 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Economic perspective, Marginal analysis

Chapter 3 - Demand, supply, and market equilibrium. This chapter provides an introduction to demand and supply concepts. Both demand and supply are defined and illustrated; determinants of demand and supply are listed and explained. The concept of equilibrium and the effects of changes in demand and supply on equilibrium price and quantity are explained and illustrated. The chapter also includes brief discussions of efficiency (productive and...

 16 p hce 28/04/2016 154 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Market equilibrium, Law of demand

Chapter 2 - The market system and the circular flow. This chapter begins with a brief comparison of command and laissez-faire systems, then transitions to a discussion of the characteristics of a market system. The five fundamental questions faced by every economy are presented along with how a market economy answers each one.

 19 p hce 28/04/2016 292 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Economic systems, Market system

Chapter 3A - Additional examples of supply and demand. This appendix provides additional examples of demand and supply analysis using real-world economic occurrences. This is helpful for those trying to understand or explain current events.

 8 p hce 28/04/2016 357 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Exchange rates, Supply shifts

Chapter 4 - Market failures: public goods and externalities. This chapter seeks to define a market failure and the consequences of a market failure. The chapter begins by looking at the demand side of market failures, the supply side of market failures, and the inefficiencies found. It goes on to describe and show consumer and producer surplus. It defines and describes private goods, public goods, the free-rider problem, and quasi-public goods.

 19 p hce 28/04/2016 335 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Market failures, Public goods

Chapter 9 - Businesses and the cost of production. This chapter develops a number of crucial cost concepts that will be employed in the succeeding three chapters to analyze the four basic market models. A firm’s implicit and explicit costs are explained for both short and long run periods. The explanation of short run costs includes arithmetic and graphic analyses of both the total, average, and marginal-cost concepts.

 12 p hce 28/04/2016 304 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, The cost of production, Economic costs

Chapter 6 - Elasticity. Both the elasticity coefficient and the total revenue test for measuring price elasticity of demand are presented in this chapter. The text discusses the major determinants of price elasticity. The chapter reviews a number of applications and presents empirical estimates for a variety of products. Cross- and income elasticities of demand and price elasticity of supply are also examined. The Last Word is about how firms...

 19 p hce 28/04/2016 136 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Price elasticity of demand, Price elasticity of supply

Chapter 11 - Pure competition in the long run. After studying this chapter, you should be able to: Explain how the long run differs from the short run in pure competition; describe how profits and losses drive the long-run adjustment process of pure competition; explain the differences between constant-cost, increasing-cost, and decreasing-cost industries; show how long-run equilibrium in pure competition produces an efficient allocation of...

 12 p hce 28/04/2016 137 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Pure competition, Long run supply curves