Principles of economics
- ISBN: 9780230249295
- Editorial: Palgrave MacMillan
- Fecha de la edición: 2014
- Lugar de la edición: London. Reino Unido
- Edición número: 8th ed.
- Colección: Palgrave Classics in Economics
- Encuadernación: Rústica
- Medidas: 20 cm
- Nº Pág.: 724
- Idiomas: Inglés
Originally published in 1890, Principles of Economics was the first text to bring together the theories of supply and demand, marginal utility and cost of production into a coherent whole. It introduced a number of new concepts which have formed the building blocks of modern microeconomics and underpin modern day business strategy. Concepts such as; elasticity of demand - how consumer demand for a good or service is affected by a change in its price; consumer surplus - the difference between the maximum price a consumer is willing to pay and the price that they actually pay and quasi-rent - the profit made in the short-term from a product/innovation due to a reduction in supply. Over 100 years after its original publication Principles of Economics continues to influence economic and business strategy. This re-issued classic contains a new introduction by Professor Peter Groenewegen who explores the profound impact that this critical work has had on economic and business thinking.