Economics For Dummies, 3rd Edition (For Dummies (Business & Personal Finance))

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Unless you are studying it, this might make it too dry for the casual reader who wants just to know a bit more about economics.

I wanted a readable introduction that would let me understand microeconomics as it applied to my business, and macroeconomics as it applied to what I was hearing and reading on the news.I enjoyed "The Ten Seductive Economic Fallacies" the most, it appeals to my skepticism and I dont generally hear economists actually acknowledge any economic theory as fallacious very often, unless it is some sort of dispute between rival theories which. But they never quite got around to having an industrial revolution and entering on a path of sustained economic growth. You don't need to read far before you wonder how your government is making such a mess of running the country or why your company is not doing so well. However, because of strong incentives to cheat on collusive agreements, oligopoly firms often end up competing against each other.

Public goods: Private firms can’t make money producing certain goods or services because there’s no way to exclude nonpayers from receiving them. the scholars are told key themes, bulleted so you can read this anywhere and then go back to expand on any of the terms or ideas raised. The book, like all Dummies books has handy icons (such as "real world" examples and, my favourite "key concept" there are also plenty of graphs, examples and handy little boxes full of snippets of information. blurb":"","authors":[{"authorId":10202,"name":"Sean Masaki Flynn","slug":"sean-masaki-flynn","description":"

Sean Flynn, PhD, is an associate professor of economics at Scripps College in Claremont, California. It is the section which I would begin with when reading this book as it is easy to read, interesting and less technical than a lot of the other sections.In a similar fashion, if the government cuts tax rates, consumers end up with higher after-tax incomes, which, when spent, increase economic activity. To minimize confusion, whenever I introduce a new term, I put it in italics and follow it closely with an easy-to-understand definition.

Here are definitions for three of the most important words in economics:

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  Economics studies how people allocate resources among alternative uses. Several prerequisites must be fulfilled before perfect competition can work properly and generate that output level. Those disputes are intensified by concerns about whether foreign working conditions are humane, whether foreign producers are unfairly subsidized by their governments, and whether currency exchange rates are being manipulated by foreign governments to give their own firms a cost advantage over firms in other countries.Most introductory books tend to be stronger on macroeconomics - as it lends itself more to being interesting as a basic level - but this book also gives due weight to microeeconomics and spends much time on supply and demand curves and the implications of monopoly etc. There were a couple of times I thought the author's peculiar biases showed, which was odd, but overall they stuck to the facts. Biography: Peter Antonioni is a Senior Teaching Fellow in the Department of Management, Science and Innovation at University College London.

  While physics describes the world in terms of mass, motion, and energy, economics describes the world in terms of costs, constraints, and choices. Externalities caused by incomplete or nonexistent property rights: Without full and complete property rights, markets are unable to take all the costs of production into account.com/v2/articles/192483"}}],"content":[{"title":"The big definitions in economics","thumb":null,"image":null,"content":"

  When studying any subject, a key first step is to learn the lingo. For the first time in history, people figured out how to use electricity, engines, complicated machines, computers, radio, television, biotechnology, scientific agriculture, antibiotics, aviation, and a host of other technologies. To avoid a graph-induced panic as you flip through the pages of this book, I spend a few pages helping you get acquainted with what you encounter in other chapters. p>\n"},{"title":"Identifying market failures","thumb":null,"image":null,"content":"

  Sometimes markets fail to generate the socially optimal output level of goods and services.