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To help them to make sense of industries in which firms are interacting, economists group industries into three basic structures. It's not really for dummies - it's just so well structured that it make it easier for us all to understand. Lower interest rates make loans for cars, homes, and investment goods cheaper, which means consumption spending by households and investment spending by businesses increase. Democracy: Because the common people outnumbered the nobles, the advent of democracy meant that for the first time, governments reflected the interests of a society at large.
It also encompasses the study of economic growth and the methods governments use to try to moderate the harm caused by recessions. Totaling up this number is vital because if you can’t measure how the economy is doing, you can’t tell whether government polices intended to improve the economy are helping or hurting. p>\n
A recession occurs when the overall level of economic activity in an economy is decreasing, and an expansion occurs when the overall level is increasing.Economics is all about how groups and individuals make choices and why they choose the things that they do. I’ve organized this book to try to get as much economics into you as quickly and effortlessly as possible. Economists measure gross domestic product (GDP), the value of all goods and services produced in a nation’s economy in a given period of time, usually a quarter or a year. r\n\r\nMacroeconomics studies national economies, and microeconomics studies the behavior of individual people and individual firms. Also, it helps to learn if you try to draw the chart the narrator is describing and then check it against what it is supposed to look like.
The result is a book that is perhaps more detailed and heavyweight than some might expect from a Dummies book - it's hard to accurately identify the level but I'd say that it is perhaps most suitably pitched to first year university level. However, that said, I really would have appreciated this book when I was at university studying the topic of economics from a variety of diferent perspectives, ie social policy, politics, sociology. The fundamental principles of economics are very easy to grasp and you certainly do not need to study the maths to understand them. The reason people have to make choices is scarcity, the fact that we don’t have enough resources to satisfy all our wants.And because every country, every business, and every person has to deal with constraints, economics is literally everywhere. You’ll understand much more about people, the government, international relations, business, and even environmental issues. The book uses bolded text with larger typesets for headings and subheadings, regular readers of the Dummies series will know the popular Dummies Icons "Remember", "Technical Stuff", "Tip" and "Warning" which do as the authors say "make this book easier to read and simpler to use", they appear in the margins and draw the eye throughout the whole of the book. 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. p>\n\n\n"},{"title":"Macroeconomics and government policy","thumb":null,"image":null,"content":"
Economists use gross domestic product (GDP) to keep track of how an economy is doing.
This book simplifies the history, principles, theories, and terminology behind micro and macroeconomics, helping you get to grips with how economic decisions affect you, your finances, and the world around you. Economics gets to the heart of these issues, analyzing the behavior of individuals and firms, as well as social and political institutions, to see how well they convert humanity’s limited resources into the goods and services that best satisfy human wants and desires. It serves as the perfect vehicle for illustrating the two things that can help get you out of a recession. In the same way, you should hope that the paper and ink used to make this book have been put to their best use and that every last tax dollar that your government spends is being used in the best way.In the first decades after Keynes’s antirecessionary ideas were put into practice, they seemed to work really well. I know that it's probably a little petty of me however I was a little irked at the statement that Karl Marx's theories regarding capitalism relating to the exploitation of workers and free market monopolies were disproved as I would consider the need for antitrust legislation and the fact that the earnings of the bottom 50% of Americans have either stagnated or decreased in real terms over the last 30 years since the U.
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