Economics For Dummies, 2nd Edition, UK Edition

Product Information

But at the same time, it could be a little bit dangerous, because you are making these huge simplifications, and sometimes the math might lead you to some very strong conclusions.

Fortunately, Microeconomics For Dummies is here to help make this tough topic accessible to the masses. This Dummies guide has your back, with online practice and chapter quizzes to help you get the score you need. Causes of market failure include the following:

\n
• \n

  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.
  
  And in both macro- and micro-economics, there is especially in the modern sense of it, there is an attempt to make them rigorous, to make them mathematical. additionalResourceLink":"","bookCompanionPage":{"pageId":0,"name":null,"slug":null,"_links":null},"seo":{"metaDescription":"Economics For Dummies, 4th Edition (1394161336) transforms complex concepts into easy-to-understand learning.

  This is valuable, it is valuable to make these mathem jpg","width":250,"height":350},"authors":[{"authorId":10091,"name":"Morris Altman","slug":"morris-altman","description":" Morris Altman, PhD, is a professor of behavioral economics at Victoria University of Wellington in New Zealand and a professor of economics at the University of Saskatchewan in Canada. Flynn has provided economic commentary for numerous news outlets, including NPR, ABC, FOX Business, and Forbes.His published work has appeared in Economic Inquiry, Industrial Relations, the Southern Economic Journal, Contemporary Economic Policy, the Journal of Sports Economics, and other outlets. In 1982, he left the world of banking to join the investment industry in Vancouver so he could continue to pursue his love of rugby. The reason people have to make choices is scarcity, the fact that we don’t have enough resources to satisfy all our wants. It's a fascinating field and has career potential in a number of disciplines, from finance to sales to the government. Get a grasp on the unchanging fundamentals of economics Dive into behavioral economics and consumer decision making Learn what drives economic growth and inequality Solidify your knowledge with practice questions and quizzes Economics For Dummies is an approachable reference book for students, as well as an informative guide for anyone interested in learning more about today’s economy.

  com/v2/authors/8960"}},{"authorId":8961,"name":"Peter Antonioni","slug":"peter-antonioni","description":"

  Daniel Richards, PhD, is a professor of economics at Tufts University. The gap between classes (assuming you mean socio-economic disparities) can be better understood through economic concepts. Learn the basics of economics and keep up to date on our ever-changing economy Whether you’re studying economics in high school or college, or you’re just interested in taking a peek into the complexities of how money moves, Economics For Dummies is the go-to reference that transforms complex economic concepts into easy-to-understand reading. With the simple explanations in this book, you’ll master key topics like supply and demand, consumer behavior, and how governments and central banks attempt to avoid—or at least ameliorate—business downturns and recessions.By doing so, it produces less than the socially optimal output level and produces at higher costs than competitive firms. In the absence of externalities (costs or benefits that fall on persons not directly involved in an activity), the market equilibrium quantity, q * , is also the socially optimal output level. Peter Antonioni is a senior teaching fellow at the Department of Management Science and Innovation, University College, London, and coauthor of Economics For Dummies, 2nd UK Edition.