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Principles of Microeconomics is designed for a one-semester microeconomics introductory course. It is traditional in coverage, including introductory economics content, microeconomics, and international economics. At the same time, the book includes a number of innovative and interactive features designed to enhance student learning. Instructors can also customize the book, adapting it to the approach that works best in their classroom.

Welcome to Principles of Microeconomics , an OpenStax resource. This textbook has been created with several goals in mind: accessibility, customization, and student engagement—all while encouraging students toward high levels of academic scholarship. Instructors and students alike will find that this textbook offers a strong foundation in microeconomics in an accessible format.

About openstax

OpenStax is a non-profit organization committed to improving student access to quality learning materials. Our free textbooks go through a rigorous editorial publishing process. Our texts are developed and peer-reviewed by educators to ensure they are readable, accurate, and meet the scope and sequence requirements of today’s college courses. Unlike traditional textbooks, OpenStax resources live online and are owned by the community of educators using them. Through our partnerships with companies and foundations committed to reducing costs for students, OpenStax is working to improve access to higher education for all. OpenStax is an initiative of Rice University and is made possible through the generous support of several philanthropic foundations.

About openstax’s resources

OpenStax resources provide quality academic instruction. Three key features set our materials apart from others: they can be customized by instructors for each class, they are a "living" resource that grows online through contributions from science educators, and they are available free or for minimal cost.

Customization

OpenStax learning resources are designed to be customized for each course. Our textbooks provide a solid foundation on which instructors can build, and our resources are conceived and written with flexibility in mind. Instructors can select the sections most relevant to their curricula and create a textbook that speaks directly to the needs of their classes and student body. Teachers are encouraged to expand on existing examples by adding unique context via geographically localized applications and topical connections.

Principles of Microeconomics can be easily customized using our online platform (http://cnx.org/content/col11627/). Simply select the content most relevant to your current semester and create a textbook that speaks directly to the needs of your class. Principles of Microeconomics is organized as a collection of sections that can be rearranged, modified, and enhanced through localized examples or to incorporate a specific theme of your course. This customization feature will ensure that your textbook truly reflects the goals of your course.

Questions & Answers

Macroeconomic definetion
farooq Reply
I need short examples for costumer
Palden
we are costumer of this application,
sarajuddin
Marshall 's definition
Arun Reply
perfectly competitive firm earn zero economic profit in the long run.is it true or false
Sapna Reply
False...some, in the long run earn normal profit while some zero or negative profit(loss) which forces them out of the market..
Alex
what is supply
Sapna Reply
supply is the amount of goods and services that supplies are willing and able to sell at a given price at a particular period of time.
Bukari
Hey how Sapna...I have the que... I can see supply does with selling;yah that's great... So cost of production is the determinant of supply though;how does it relate to selling yet? The supply definition u just gave is not complete yet... *SUPPLY* DEFINITION HAS TO DO WITH SELLING AND PRODUCING.
Mahapa
what is difference between elastic and inelastic ?
saqlain Reply
what does a supply curve look like?
master Reply
It's the curve that has a positive gradient
Mahapa
you are right mahapa
Francis
please explain cob doglas thiory
Ibrahim
'cardinal utility implies ordinal utility'.Do you agree?
Bukari
prove
Bukari
what is relative price.?
Harpreet Reply
when the price of 2 commodity is compared with each other,the price of one commodity to another one's price is said to be relative price
Royalranjan
business organization and industry?
ALIYU Reply
history of monetary policy
Estah Reply
instrument of monetary policy
mustapha
open market,funding ,bank rate
Muafue
open market operation,Funding,Bank rate
Muafue
thanks guys
Estah
What is elasticity?
Moses Reply
level or degree of responsiveness of change in quantity as a result of change in price
Alex
is the degree of responsiveness of a quatity demand respond to small charge in price
EBENEZER
the degree of responsiveness of quantity demanded to a change in price, income or other related commodities
Dorothy
what are the Factor affected elastricity of demand and supply
Kelvin Reply
price of other related goods
Frank
fine
Bisrat
Taste. Income.
Chandrapaul
what is economic ?
Cabdulahi Reply
what is price ceiling and price floor
Mokom Reply
price ceiling is a government deliberate act of imposing a limit on prices of goods n services sold in an economy...price floor is exactly the opposite
Alex
both are a form of price control by the government. price ceiling is the subsidy to consumer by setting maximum limit to the price and prducers of good cannot charge a higher price than this price limit which is known as price ceiling
Amber
what's the difference between average product and marginal product
Francis Reply
average cost/revenue and marginal cost/revenue
Alex
A Washington state district court currently has subject matter jurisdiction over many types of civil cases, if the amount in controversy is $150,000 or less.
Sina Reply

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Source:  OpenStax, Microeconomics. OpenStax CNX. Aug 03, 2014 Download for free at http://legacy.cnx.org/content/col11627/1.10
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