In this chapter you will be introduced to the subject matter of economics and the rationale that motivates us to study economics.

Economics is about the efficient management of resources to raise standards of living for people; this chapter is an introduction to the economic way of management of resources.

In keepi ng with the nature of Basic Economics as an introduction to economics for the general public, the usual footnotes or end-notes are left out. However, those who wish to check up on some of the …

Economics can be divided into two main branches. It is concerned with consumer and rm behaviour and how their interactions in markets determine prices in goods markets and resource markets.

This is an extract from a subject guide for an undergraduate course offered as part of the University of London International Programmes in Economics, Management, Finance and the Social Sciences.

This document provides an introduction to economics, including definitions of key terms: - Economics studies the efficient allocation of scarce resources to meet unlimited human needs. It examines …

Download free Introduction to Economics study material for commerce students. Covers basics, scarcity, types of economies, and exam tips to help you score high.

Write a paragraph explaining the concept of Opportunity Cost. In your paragraph, you might like to use the following phrases: Scarcity; Choice; Wants; Resources; Opportunity forgone; Alternative; Real or …

“The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.”

Understand and know the basic concepts in undergraduate economics and the intuition behind them. Apply the concepts to logically explain, analyze, and predict real world economic phenomenon (how …