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Real versus nominal prices - PowerPoint PPT Presentation

Chapter 1

Chapter 1

Chapter 1. Preliminaries. Topics to be Discussed. The Themes of Microeconomics What Is a Market? Real Versus Nominal Prices Why Study Microeconomics?. Preliminaries. Microeconomics deals with: Behavior of individual units When Consuming How we choose what to buy. Preliminaries.

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702 views • 47 slides
Chapter 1

Chapter 1

Chapter 1. Preliminaries. Topics to be Discussed. The Themes of Microeconomics What Is a Market? Real Versus Nominal Prices Why Study Microeconomics?. Preliminaries. Microeconomics deals with: Behavior of individual units When Consuming How we choose what to buy. Preliminaries.

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638 views • 42 slides
Chapter 1

Chapter 1

Chapter 1. Preliminaries. Economics. Economics is the study of production and consumption of goods and services with the utilization of minimum resources. Economics is divided into three school of thoughts: Classical School of Thought Neo-Classical School of Thought Modern Economics.

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361 views • 20 slides
CHAPTER 1 OUTLINE

CHAPTER 1 OUTLINE

CHAPTER 1 OUTLINE. 1.1 The Themes of Microeconomics 1.2 What Is a Market? 1.3 Real versus Nominal Prices 1.4 Why Study Microeconomics?. Preliminaries.

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457 views • 17 slides
Chapter 1: Preliminaries

Chapter 1: Preliminaries

Chapter 1: Preliminaries. What is microeconomic theory? Micro theory is about the allocation of scarce resources with a focus on individual economic units like consumers and firms. It focuses on trade-offs or opportunity costs.

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228 views • 10 slides

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