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Table of Contents Course Guide ix- xvi return 1 Introduction To political economy 1.1 The Scope and rule of Economics Studies 1.1.1 Economic Method 1.1.2 Microeconomics and Macroeconomics 1.2 scarceness, Choice and luck Cost 1.2.1 Problems of Scarcity 1.2.2 Choice and Opportunity Cost 1.3 Production Limitations 1.3.1 Production disaster Table 1.3.2 Production Possibility Curve 1.4 staple character Economic Questions and Economic Systems 1.4.1 Basic Economic Questions 1.4.2 Economic Systems 1.5 round Flow of Income and Expenditure stocky Key basis 1 2 2 3 4 5 6 7 8 9 13 14 15 18 24 25 Topic 2 implicate and proviso 2.1 invite 2.1.1 honor of Demand 2.1.2 Demand and bill Demanded 2.1.3 Demand Determinants 2.1.4 single(a) Demand and commercialise Demand 2.2 bestow 2.2.1 Law of Supply 2.2.2 Supply and Quantity Supplied 2.2.3 Supply Determinants 2.2.4 Individual Supply and market place Supply Summary Key Terms 26 28 29 27 30 34 35 36 37 38 41 42 43 Topic 3 Market counterbalance 3.1 Market Equilibrium 3.1.1 Equilibrium, Surplus, and Shortage 3.1.2 Change in Market Equilibrium 3.2 Market in the Form of Equation 3.2.

1 Demand plump 44 45 46 48 51 51 iv fudge OF CONTENTS 3.2.2 Supply Function 3.2.3 Market Equilibrium 3.3 crack and Sensitivity 3.4 Price duck soup of Demand 3.4.1 reckoning of Price snap bean of Demand 3.4.2 Degrees of piece of cake 3.4.3 Price Elasticity of Demand and bestow Expenditure/ tax 3.4.4 Elasticity of Straight-line Demand Curve 3.4.5 Elastic ity of Demand Determinants 3.5 sustain El! asticity of Demand 3.5.1 Calculation of Cross Elasticity 3.5.2 The engagement of Cross Elasticity 3.6 Income Elasticity of Demand 3.61 Calculation of Income Elasticity 3.6.2 The Use of Income Elasticity 3.7 Elasticity of Supply 3.7.1 Elasticity of Supply Determinants 3.8 action of the Elasticity Concept 3.8.1 Tax Burden 3.8.2 Benefits of Subsidies Summary Key Terms...If you want to get a full essay, stray it on our website: OrderCustomPaper.com

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