Principles of Economics Marshall Alfred
Principles of Economics Marshall Alfred Originally published in 1890, "Principles of Economics" was the first text to bring together the theories of supply and demand, marginal utility, and cost of…
Specifikacia Principles of Economics Marshall Alfred
Principles of Economics Marshall Alfred
Originally published in 1890, "Principles of Economics" was the first text to bring together the theories of supply and demand, marginal utility, and cost of production into a coherent whole. Explored concepts include: elasticity of demand--how consumer demand for a good or service is affected by a change in its price; consumer surplus--the difference between the maximum price a consumer is willing to pay and the price that they actually pay; and quasi-rent--the profit made in the short-term from a product/innovation due to a reduction in supply. It introduced a number of new concepts which have formed the building blocks of modern microeconomics and underpin modern-day business strategy.
The book also unveils the theory of supply and demand, emphasizing that the price and output of goods are determined by the intersection of supply and demand curves which act like scissor blades, and
Principles of Economics
Principles of Economics