Simplified principles of microeconomics

Hazbo Skoko

Simpliied Principles of Microeconomics

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Simpliied Principles of Microeconomics
1st edition
© 2015 Hazbo Skoko & bookboon.com
ISBN 978-87-403-0993-5
Peer reviewed by Prof. Tim Brook PhD (math.) and Elvira Skoko MSc (Psy.)

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Simpliied Principles of Microeconomics

Contents

Contents
Introduction

9

Part 1

11

1

he structure of this book

12

2

How to read this book

13

3

hose two lines

14

3.1

Learning Objectives

14

Part 2

21

4

he First Principle: we can’t have everything we want

22

4.1

Learning objectives

22

4.2

Challenge

29

4.3

Summary

29

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Simpliied Principles of Microeconomics

Contents

5

he Second Principle: desire versus availability

30

5.1

Learning objectives

30

5.2

he demand side of the market

30

5.3

Conclusion

36

5.4

Challenge

37

6

he hird Principle: measuring responses

43

6.1

Learning Objectives

43

6.2

Example 1

44

6.3

Example 2

44

6.4

Example 1 again

45

6.5

Example 2 again

45

6.6

Example 3

47

6.7

Revenue and elasticity

49

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