Economics Notes

this document summarizes the topic on micro economics and is specially prepared for the first year economics students

CONTENT Price Elasticity of Demand More Elasticities of Demand Price elasticity of Supply

CONTENT Introduction What is Economics? Two big Economic questions Economic way of thinking Economic terms you should familiarize yourself with Common fallacies in Economics Graphing Data

Content... 6. Markets - A housing market with a rent ceiling -A labour market with a minimum wage -Taxes -Subsidies and quotas -Market for illegal goods

CONTENT Market and Prices Demand Supply Market Equilibrium

My summary is all the market of Monopolies

CONTENT ●Efficiency and Equity 1) Resource allocation methods 2) Benefit, cost and surplus 3) Is the competitive market efficient ? 4) is the competitive market fair?

CONTENT Define the Production Possibilities Frontier and use it to calculate opportunity cost. - Using resources efficiently - Economic Growth - Gains from Trade - Economic Coordination Exercise answers

My summary is all the market of Monopolies

this document summarizes the topic on micro economics and is specially prepared for the first year economics students

CONTENT Define the Production Possibilities Frontier and use it to calculate opportunity cost. - Using resources efficiently - Economic Growth - Gains from Trade - Economic Coordination Exercise answers

CONTENT ●Efficiency and Equity 1) Resource allocation methods 2) Benefit, cost and surplus 3) Is the competitive market efficient ? 4) is the competitive market fair?

CONTENT Introduction What is Economics? Two big Economic questions Economic way of thinking Economic terms you should familiarize yourself with Common fallacies in Economics Graphing Data

Content... 6. Markets - A housing market with a rent ceiling -A labour market with a minimum wage -Taxes -Subsidies and quotas -Market for illegal goods

CONTENT Price Elasticity of Demand More Elasticities of Demand Price elasticity of Supply

CONTENT Market and Prices Demand Supply Market Equilibrium