Microeconomics For Dummies - UK, UK Edition
Learn to:
- Succeed with the information you need for your economics course
- Get a handle on supply and demand
- Understand the consumer decision-making process and its effects within economics
- Weigh the effects of oligopolies and monopolies
Studying microeconomics?
Microeconomics examines the economic behaviour of individual people and individual firms. Sounds pretty straightforward, but it can get complicated in a hurry. Turn to this book and watch everything become understandable! Clear information and plenty of real-world examples help you understand everything from supply and demand to market competition.
- Small units are a big deal — see how people and firms make decisions, how those decisions become markets, and what causes markets to fail
- About the consumer — explore the factors that affect consumer choices, how we deal with constraints, and how our decisions affect the greater economy
- How a firm "thinks" — learn about costs and cost curves, profit maximisation, supply and demand, equilibrium analysis, and the effect of competition
- The bigger picture — examine the effects of imperfect competition, the fundamental theorems of welfare economics, what a monopoly creates, and what happens when the market doesn???t make what we want
- Getting strategic — discover how game theory, auction theory, and Nash Equilibrium come into play
Open the book and find:
- What an oligopoly is and how it affects competition
- Why competition must sometimes be regulated
- How consumers make choices
- What equilibrium analysis tells us
- All about elasticity and production costs
- How market niches are chosen
- Why what you don't know can hurt you
- Ten great microeconomists