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Microeconomics: Markets, Methods and Models

Microeconomics: Markets, Methods and Models

Economics is a social science; it analyzes human interactions in a scientific manner. We begin by defining the central aspects of this social science – trading, the marketplace, opportunity cost, and resources. We explore how producers and consumers interact in society. Trade is central to improving the living standards of individuals. This material forms the subject matter of Chapter 1. Methods of analysis are central to any science....

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