Microeconomics: Markets, Methods and Models provides a concise, yet
complete, coverage of introductory microeconomic theory, application and
policy in a Canadian and global environment. Topics covered includes:
introduction to key ideas, Theories, models and data, The classical
marketplace – demand and supply, Measures of response: elasticities, Welfare
economics and externalities, Individual choice, Firms, investors and capital
markets, Production and cost, Perfect competition, Monopoly , Imperfect
competition, Labour and capital, Human capital and the income distribution,
Government and International trade.
The objective of
this book to familiarize the students with the basic concepts of economics
such as Demand, Supply, Goods, Utility and enable the students to understand
basic theories, Principles and laws relating to Consumption, Production and
Distribution.
This note explains the
following topics: Divisions of Economics, Importance of Economics,
Agricultural Economics Meaning, Definition , Law of Diminishing Marginal
Utility meaning, Definition, Assumption, Limitation, Importance,
Indifference curve approach, Consumer’s Surplus, National Income, Public
Revenue, Public Revenue, Public Expenditure, Inflation, meaning definition,
kind of inflation.