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.
Dieser Kurs ist Teil der Spezialisierung Spezialisierung Managerial Economics and Business Analysis
Spezialisierung Managerial Economics and Business Analysis University of Illinois at Urbana-ChampaignÜber diesen Kurs
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- Economics
- Consumer Behaviour
- Supply And Demand
- Cost
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Lehrplan - Was Sie in diesem Kurs lernen werden
Course Orientation
Module 1: Scarcity, Allocation, and Markets
Module 2: Government Intervention in Markets
Module 3: Firms, Production, and Costs
Module 4: Firm Behavior
Bewertungen
- 5 stars85,38 %
- 4 stars12,55 %
- 3 stars1,24 %
- 2 stars0,25 %
- 1 star0,55 %
Top-Bewertungen von FIRM LEVEL ECONOMICS: CONSUMER AND PRODUCER BEHAVIOR
Larry is an excellent teacher--clear, concise, and entertaining. This was a refresher course for me (I majored in Econ at Berkeley 40 yrs ago) and reminded me why I chose to study it!
Everything is fine but regarding my economics subject, where i got some lagg while understanding because somewhat the examples are varies from one country to another country.
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.
Larry is one of my all time favorite professors. No one teaches price theory like him. He makes the material entertaining and creates an enjoyable learning experience. I wish he taught more courses.
Über den Spezialisierung Managerial Economics and Business Analysis
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