Economics For Dummies, 3rd Edition (For Dummies (Business & Personal Finance))

£9.9
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Economics For Dummies, 3rd Edition (For Dummies (Business & Personal Finance))

Economics For Dummies, 3rd Edition (For Dummies (Business & Personal Finance))

RRP: £99
Price: £9.9
£9.9 FREE Shipping

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This volume easily matches the high standards that I have come to expect from them, being an excellent introduction and primer to a very complex subject. Here are the four basic market structures:

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    Perfect competition: Perfect competition happens when numerous small firms compete against each other. As you can see, using a figure rather than a table makes coming up with model-based predictions much, much simpler.

    The book, like all Dummies books has handy icons (such as "real world" examples and, my favourite "key concept" there are also plenty of graphs, examples and handy little boxes full of snippets of information. Ten Economic Ideas to Hold Dear" was interesting, many of the main points had been made already and were being reiterated at this stage though. Several common problems include the following:

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      Externalities caused by incomplete or nonexistent property rights: Without full and complete property rights, markets are unable to take all the costs of production into account. In particular, a firm will only produce a unit if the increase in revenue from selling it exceeds the unit’s cost of production.There were a couple of times I thought the author's peculiar biases showed, which was odd, but overall they stuck to the facts. In the first decades after Keynes’s antirecessionary ideas were put into practice, they seemed to work really well. Since then I've gotten interested in topics in economics for both professional and personal reasons. jpg\" width=\"535\" height=\"484\" />

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      In the absence of externalities (costs or benefits that fall on persons not directly involved in an activity), the market equilibrium quantity, q*, is also the socially optimal output level.

      If you think economics is a complicated discipline reserved for theorists and the intellectual elite and has nothing to do with you, think again! Consequently, I spend the rest of Part I explaining these fundamentals before diving in to microeconomics in Part II and macroeconomics in Part III. Democracy: Because the common people outnumbered the nobles, the advent of democracy meant that for the first time, governments reflected the interests of a society at large. This information can be interesting and informative, but I’ve designed the book so that you don’t need to understand it to get the big picture about what’s going on. For instance, the circumstances under which millions of individuals choose to pursue work or school cumulate to major effects on the unemployment rate.

      This challenge needs to be faced because problems like infant mortality, child labor, malnutrition, endemic disease, illiteracy, and unemployment are all alleviated by higher living standards and an increased ability to pay for solutions to such problems. description":"Economics is the science that studies how people and societies make decisions that allow them to get the most out of their limited resources.

      r\n\r\nMacroeconomics studies national economies, and microeconomics studies the behavior of individual people and individual firms. Darwinian evolution is all about animals and plants competing over limited resources to produce the greatest number of offspring. Understand how goods and services are produced, how resources are allocated, and the roles of government and the market. They then weigh costs and benefits to select the course of action that will yield the greatest amount of utility possible given their limited incomes.com","bookOutOfPrint":true,"authorsInfo":"

      Sean Flynn, PhD, is an associate professor of economics at Scripps College in Claremont, California. Economists assume that people work toward maximizing their utility, or happiness, and firms act to maximize profits. In a similar fashion, if the government cuts tax rates, consumers end up with higher after-tax incomes, which, when spent, increase economic activity.

      This Dummies guide has your back, with online practice and chapter quizzes to help you get the score you need. It covers Property Rights and Wrongs; Asymmetric Information and Public Goods and Health Economics and Healthcare Finance and it does so well, not perfectly I would say but then entire books have been written on Public Goods and Health Economics and they really are contested areas of theory too. Consequently, although you want the crucial facts, you don’t want to have to read through a bunch of minutiae to find them. A less-extreme case of lack of competition is oligopoly, a situation in which only a few firms are in an industry.

      Financial crises are recessions triggered by the failure of important financial institutions to keep their financial promises. Moreover it's really detailed and designed also for people who are not doing Economics but want to understand something about it.



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