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020			_a9788130908625
040			_cMSULIB _bEnglish _erda
050	0	0	_aHB172 MAN
100	1		_aMansfield, Edwin. _920418 _eauthor
245	1	0	_aMicroeconomics : _btheory / applications / _ccreated by Edwin Mansfield and Gary Yohe.
250			_aEleventh edition
264		1	_bW.W.Norton and company, _c2010.
264		4	_c©2010
300			_a714 pages ; _bIllustrations.
336			_2rdacontent _atext
337			_2rdamedia _aunmediated _bn
338			_2rdacarrier _avolume _bnc
500			_aJack Welch retired as chief executive officer of general electric during the summer of 2001 after more than 20 relatively turbulent years. GE was extrodinarily successful during his tenure. ITs total market value in 2011 was larger than that of any other company on the planet, and forture magazine voted GE the most respected corporation in America for each of Mr. Welch's last four years. To achieve such accolades for imself and his company, Mr. Welch made countless decisions over the years that depended on an understanding of economics. 'This is ot surprising. Economics helps us understand the nature and organization of our society, the arguments undelying many of the great issues of the day, and the operation of businesses and other economic organizations. Precisely what is economics one standard definition describes economics as the study of how scare resources are allocated among alternative uses. It is customary to divide economics into two parts. Microeconomics is the study of the economic behavior of individual units and decision-makers: consumers, firms, and the owners of resources, to name a few. Macroeconomics deals with the behavior of economic aggregates like gross domestic product and the level of employment. Since this book is concerned with microeconomics, we begin this chapter with a brief introduction to the tasks that any economic system must confront of it is to cope with resources scarcity. We will, however, turn quickly to an initial discussion about how the price system of a decentralized economy might work.
504			_aIncludes index
650		0	_aMicroeconomics _912716
700	1		_aYohe, Gary. _920419 _eauthor
942			_2lcc _cB
999			_c77357 _d77357