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Introduction: This book is designed to help anyone who wants to learn microeconomics without any previous experience in economics. It contains everything you need to know before diving into the world of microeconomics.
Governments & Markets
Introduction: In a market economy, the four basic roles of the government are to improve efficiency, supply infrastructure, advance equity, and encourage macroeconomic stability and growth. However, governments can impose tariffs, which add taxes to imported goods, or subsidies, which raise prices and improve the appeal of indigenous goods by taxing the public and transferring the money to the industry. Increased taxes, levies, and regulations might stymie businesses or entire industries.
Introduction: Elasticity is a term used in economics to describe how a good or service's total quantity required changes in response to changes in its price. If a product's demand changes more than proportionally as its price rises or falls, it is said to be elastic. In this part, you will learn different types of elasticities.
Profit & Cost
Introduction: Cost is a term used frequently to refer to the monetary value of the products and services that manufacturers and consumers buy. Cost can be defined in a fundamental economic sense as the measure of the alternative options passed up when choosing one good or activity over another. The term "opportunity cost" is frequently used to describe this essential expenditure. This part tells you how to calculate different types of costs and profits. We will focus on the “costs” part and also talk about the relationships between costs and profits.
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