Microeconomics
5/5
()
About this ebook
With the economy currently in turmoil, understanding how businesses and consumers interact is more important than ever—for business owners and students of economics, alike. A handy, fluff-free resource tool, our 3-panel (6-page) guide simplifies the world of microeconomics through the use of definitions, formulas and full-color tables and charts.
Read more from Bar Charts, Inc.
Chemistry: a QuickStudy Laminated Reference Guide Rating: 5 out of 5 stars5/5DSM-5 Overview Rating: 4 out of 5 stars4/5Legal Writing: QuickStudy Laminated Reference Guide Rating: 0 out of 5 stars0 ratingsSpanish Grammar: a QuickStudy Laminated Reference Guide Rating: 4 out of 5 stars4/5Macroeconomics Rating: 5 out of 5 stars5/5Torts: QuickStudy Laminated Reference Guide Rating: 5 out of 5 stars5/5Biology: a QuickStudy Laminated Reference Guide Rating: 3 out of 5 stars3/5Statistics: a QuickStudy Laminated Reference Guide Rating: 0 out of 5 stars0 ratingsCriminal Law Rating: 0 out of 5 stars0 ratingsEnglish Verbs Rating: 5 out of 5 stars5/5Medical Abbreviations & Acronyms Rating: 4 out of 5 stars4/5Contracts Rating: 0 out of 5 stars0 ratingsCivil Procedure Rating: 0 out of 5 stars0 ratingsFrench Vocabulary Rating: 5 out of 5 stars5/5Constitutional Law Rating: 5 out of 5 stars5/5Studying Tips, Tricks & Hacks: QuickStudy Laminated Reference Guide to Grade Boosting Techniques Rating: 5 out of 5 stars5/5Medical Terminology:The Basics: a QuickStudy Laminated Reference Guide Rating: 0 out of 5 stars0 ratingsAccounting 1 Rating: 0 out of 5 stars0 ratingsRobert's Rules Of Order Rating: 5 out of 5 stars5/5Microbiology: a QuickStudy Laminated 6-Page Reference Guide Rating: 0 out of 5 stars0 ratingsCommon Grammar Pitfalls & Mistakes Rating: 5 out of 5 stars5/5Evidence Rating: 0 out of 5 stars0 ratingsEnglish Grammar & Punctuation: a QuickStudy Laminated Reference Guide Rating: 0 out of 5 stars0 ratingsPhysics Rating: 3 out of 5 stars3/5Nursing: Assessment Rating: 0 out of 5 stars0 ratingsMath Review: a QuickStudy Laminated Reference Guide Rating: 5 out of 5 stars5/5Spanish Vocabulary: a QuickStudy Laminated Reference Guide Rating: 0 out of 5 stars0 ratingsGRE - Quantitative Reasoning: QuickStudy Laminated Reference Guide Rating: 0 out of 5 stars0 ratingsGRE - Verbal Reasoning Rating: 0 out of 5 stars0 ratings
Related to Microeconomics
Related ebooks
Microeconomics: A Simple Introduction Rating: 4 out of 5 stars4/5Methods of Microeconomics: A Simple Introduction Rating: 5 out of 5 stars5/5Econometrics: A Simple Introduction Rating: 4 out of 5 stars4/5Microeconomics Essentials Rating: 4 out of 5 stars4/5Intermediate Accounting 1: a QuickStudy Digital Reference Guide Rating: 0 out of 5 stars0 ratingsMicroeconomics - Undergraduate Essays and Revision Notes Rating: 0 out of 5 stars0 ratingsEconomics for CFA level 1 in just one week: CFA level 1, #4 Rating: 5 out of 5 stars5/5Accounting 2 Rating: 5 out of 5 stars5/5Accounting 1 Rating: 0 out of 5 stars0 ratingsEssays & Term Papers Rating: 0 out of 5 stars0 ratingsPsychology: a QuickStudy Laminated Reference Guide Rating: 0 out of 5 stars0 ratingsStatistics: a QuickStudy Laminated Reference Guide Rating: 0 out of 5 stars0 ratingsEconomics: A Simple Introduction Rating: 4 out of 5 stars4/5Physics Rating: 3 out of 5 stars3/5American History 1 Rating: 5 out of 5 stars5/5Sociology Rating: 0 out of 5 stars0 ratingsFinancial Economics: A Simple Introduction Rating: 5 out of 5 stars5/5English Composition & Style: a QuickStudy Laminated Reference Guide Rating: 0 out of 5 stars0 ratingsEconomics 101: From Consumer Behavior to Competitive Markets--Everything You Need to Know About Economics Rating: 4 out of 5 stars4/5Math Review: a QuickStudy Laminated Reference Guide Rating: 5 out of 5 stars5/5American History 2 Rating: 0 out of 5 stars0 ratingsCommon Grammar Pitfalls & Mistakes Rating: 5 out of 5 stars5/5Introductory Macroeconomics Rating: 4 out of 5 stars4/5Public Speaking Rating: 2 out of 5 stars2/5Mathematical Formulas for Economics and Business: A Simple Introduction Rating: 4 out of 5 stars4/5Philosophy: a QuickStudy Digital Reference Guide Rating: 0 out of 5 stars0 ratingsFinancial Statements Rating: 0 out of 5 stars0 ratingsGRE - Verbal Reasoning Rating: 0 out of 5 stars0 ratingsAP Microeconomics/Macroeconomics Premium, 2024: 4 Practice Tests + Comprehensive Review + Online Practice Rating: 0 out of 5 stars0 ratings
Economics For You
Sex Trafficking: Inside the Business of Modern Slavery Rating: 4 out of 5 stars4/5The Richest Man in Babylon: The most inspiring book on wealth ever written Rating: 5 out of 5 stars5/5Divergent Mind: Thriving in a World That Wasn't Designed for You Rating: 4 out of 5 stars4/5The Intelligent Investor, Rev. Ed: The Definitive Book on Value Investing Rating: 4 out of 5 stars4/5Economics 101: From Consumer Behavior to Competitive Markets--Everything You Need to Know About Economics Rating: 4 out of 5 stars4/5The Hard Truth About Soft Skills: Soft Skills for Succeeding in a Hard Wor Rating: 3 out of 5 stars3/5A History of Central Banking and the Enslavement of Mankind Rating: 5 out of 5 stars5/5Economics For Dummies, 3rd Edition Rating: 5 out of 5 stars5/5Wise as Fu*k: Simple Truths to Guide You Through the Sh*tstorms of Life Rating: 4 out of 5 stars4/5Capitalism and Freedom Rating: 4 out of 5 stars4/5How to Be Everything: A Guide for Those Who (Still) Don't Know What They Want to Be When They Grow Up Rating: 4 out of 5 stars4/5Confessions of an Economic Hit Man, 3rd Edition Rating: 5 out of 5 stars5/5Economix: How and Why Our Economy Works (and Doesn't Work), in Words and Pictures Rating: 4 out of 5 stars4/5Maslow's Hierarchy of Needs: Gain vital insights into how to motivate people Rating: 5 out of 5 stars5/5Everybody Lies: Big Data, New Data, and What the Internet Can Tell Us About Who We Really Are Rating: 4 out of 5 stars4/5The Physics of Wall Street: A Brief History of Predicting the Unpredictable Rating: 4 out of 5 stars4/5The Myth of Capitalism: Monopolies and the Death of Competition Rating: 4 out of 5 stars4/5Talking to My Daughter About the Economy: or, How Capitalism Works--and How It Fails Rating: 4 out of 5 stars4/5The Lords of Easy Money: How the Federal Reserve Broke the American Economy Rating: 4 out of 5 stars4/5Getting to Yes with Yourself: (and Other Worthy Opponents) Rating: 4 out of 5 stars4/5The Spirit Level: Why Greater Equality Makes Societies Stronger Rating: 4 out of 5 stars4/5Chip War: The Fight for the World's Most Critical Technology Rating: 4 out of 5 stars4/5Nickel and Dimed: On (Not) Getting By in America Rating: 4 out of 5 stars4/5Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions Rating: 4 out of 5 stars4/5Capital in the Twenty-First Century Rating: 4 out of 5 stars4/5Disrupting Sacred Cows: Navigating and Profiting in the New Economy Rating: 0 out of 5 stars0 ratingsBad Samaritans: The Myth of Free Trade and the Secret History of Capitalism Rating: 4 out of 5 stars4/5
Reviews for Microeconomics
1 rating0 reviews
Book preview
Microeconomics - BarCharts, Inc.
OVERVIEW
ECONOMICS: The study of how scarce resources are allocated among competing uses.
KEY ECONOMIC QUESTIONS INCLUDE:
What is produced?
How is it produced?
Who gets what is produced?
PRODUCTION POSSIBILITY FRONTIER: The alternative combinations of final goods and services that could be produced in a given time period with all available and limited resources and technology.
Illustrates opportunity cost: Obtaining more production of one good requires a reduction in the production (lost opportunity) of one or more other goods.
Law of increasing opportunity cost: Obtaining more of a good in equal amounts requires giving up ever larger amounts of the alternative good.
Inside frontier: Unemployed resources or resources used inefficiently. 4. Expanding frontier: Occurs (a) when resources are increased and/or (b) due to technological advancements.
HOW CHOICES ARE MADE:
Market mechanism: Supply and demand determine the price; owners allocate resources to obtain the highest monetary rewards.
Command economy: Central authority determines the price and allocates resources to achieve goals.
Mixed: An economy that uses both market and non-market signals to allocate goods and resources.
MACROECONOMICS: The study of economic aggregates such as national production and the price level.
MICROECONOMICS: The study of the behavior of consumers and producers operating in the individual markets of the economy.
MicroeconomicsSUPPLY & DEMAND DEMAND
DEMAND CURVE (SCHEDULE): A curve (table) showing the quantities of a good a consumer is willing and able to buy at alternative prices.
LAW OF DEMAND: Increase in price (P) causes decrease in quantity (Q) demanded.
CHANGE IN QUANTITY DEMANDED(Movement along the demand curve): Caused by a change in the price of the given good.
CHANGE IN DEMAND (Shift in the entiredemand curve): Results from changes in tastes, income, personal taxes, prices of related goods (substitutes or complements), expected future price or quantity, number of buyers, or a change in planned consumption at all prices.