All goods and services are subject to scarcity at some level, which requires that society develop some allocation mechanism to determine who gets what. Over recorded history, these allocation rules were usually command based, meaning that the king or the emperor would decide. In contemporary times, most countries have turned to market-based allocation systems. In markets, prices act as rationing devices, encouraging or discouraging production and encouraging or discouraging consumption to find an equilibrium allocation of resources. To understand this process, businesses construct demand curves to capture consumer behavior and consider supply curves to capture producer behavior. The resulting equilibrium price “rations” the scarce commodity.
Ce cours fait partie de la Spécialisation Économie managériale et analyse commerciale
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Meilleurs avis pour FIRM LEVEL ECONOMICS: CONSUMER AND PRODUCER BEHAVIOR
Absolutely made me understand firm level economics concepts. Good practice and foundation building.
Professor is great and engages will with real life examples and connections.
Professor Larry DeBrock has a very hands on approach to the concepts of economics. He integrates theoretical content with relevant practical examples , helping to understand the framework easily.
This was awesome. I did not know Firm Level Economics when I joined this course. The explanations were simple and Prof DeBrock explained really difficult concepts in a very easy to understand manner.
Found the content extremely interesting. Mr DeBrock delivered the content in a simple and understandable way. Definitely recommended for any beginners wanting to get into economics.
À propos du Spécialisation Économie managériale et analyse commerciale
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