| Microeconomics: An Aspect of Development Contributor(s): Abraham, Akampurira (Author) |
|
 |
ISBN: 3954890941 ISBN-13: 9783954890941 Publisher: Anchor Academic Publishing OUR PRICE: $65.08 Product Type: Paperback Published: July 2013 |
| Additional Information |
| BISAC Categories: - Business & Economics | Management - General |
| Physical Information: 0.16" H x 5.83" W x 8.27" (0.21 lbs) 66 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: Human beings have basic wants, and naturally, they are not self sufficient. Therefore, they have to produce and exchange what they do not have with those who do have it. Right decisions have to be made in regard to the quantities produced and the prices that will be charged by firms. This is done through the demand and supply theory. In most economies, supply and demand face a lot of challenges. Supply challenges range from small firms with structural supply rigidities to huge firms who act as monopolists and cartels and charge consumers exploitative prices. These challenges affect the trading position of several economies in the international trade. Demand is rapidly increasing due to the rapid world increase in population. This study analyzes the firms' decisions, the supply and demand of a commodity, the price of a commodity and the way the mentioned variables are affected by small economic groups and individuals. |