Economy & Finance Introduction to economics

1. Basics of Managerial Economics A study of Choice 2. What is Economics?  Essence best captured by Lionel Robbins in 1932 as “the science which studies human behaviour…

Education Chap2

1. Chapter 2: Opportunity costs 2. Scarcity Economics is the study of howindividuals and economies dealwith the fundamental problem ofscarcity. As a result of scarcity,…

Documents Appendix Tools of Microeconomics. 1. The Marginal Principle Simple decision making rule We first...

Slide 1 Appendix Tools of Microeconomics Slide 2 1. The Marginal Principle Simple decision making rule We first define: Marginal benefit (MB): the benefit of an extra unit…

Documents Chapter 2: Opportunity costs. Scarcity Economics is the study of how individuals and economies deal....

Slide 1 Chapter 2: Opportunity costs Slide 2 Scarcity Economics is the study of how individuals and economies deal with the fundamental problem of scarcity. As a result of…