» Từ khóa: economic problem

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 161 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 439 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 157 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 295 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 360 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 338 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 308 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 138 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 141 2 Download

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

Chapter 5 - Government’s role and government failure. This chapter will discuss how government’s power to coerce can be economically beneficial; difficulties associated with managing and directing the government; and government failure and why it happens.

 10 p hce 28/04/2016 309 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Government’s role, Government failure

Chapter 10 - Pure competition in the short run. After studying this chapter, you should be able to: Give the names and summarize the main characteristics of the four basic market models, list the conditions required for purely competitive markets, explain how demand is seen by a purely competitive seller,...

 11 p hce 28/04/2016 142 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Pure competition, Market models

Chapter 7 - Utility maximization. In this chapter, the law of diminishing marginal utility is developed, which leads into a detailed discussion of the theory of consumer choice. The numerical illustrations of the utility maximizing rule should be viewed as a pedagogical technique, rather than an attempt to portray the actual choice making process of consumers. The chapter concludes with a discussion of how society might use this theory to...

 8 p hce 28/04/2016 303 2 Download

Từ khóa: Lecture Microeconomics, Economic problem, Economic principles, Economic policies, Utility maximization, Theory of consumer behavior