Publisher's Synopsis
The book "Theory & Relevant Cases in Economics: An Overview of Demand, Supply, and Elasticity" provides a comprehensive introduction to economic theory and its practical application in real-world scenarios. The book is divided into three main sections that cover the basics of demand and supply theory, the concept of elasticity, and relevant case studies that apply economic theories in various economic contexts.
The first section of the book covers the fundamentals of demand and supply theory, including the factors that influence consumer behavior and the behavior of producers. The section also includes a discussion on how to read demand and supply graphs and how changes in market conditions can affect the well-being of consumers and producers. The second section of the book provides a detailed explanation of the concept of elasticity, including elasticity of demand and supply. The section highlights the importance of elasticity in understanding market behavior and how it can help identify and measure the responsiveness of consumers and producers to changes in market conditions. The third section of the book presents relevant case studies that apply the theories of demand, supply, and elasticity in various economic contexts, including agriculture, labor markets, and other industries. These case studies provide practical examples of how economic theory works in the real world and highlight the importance of understanding and applying economic concepts to solve real-world problems. "Theory & Relevant Cases in Economics: An Overview of Demand, Supply, and Elasticity" is a valuable resource for students and professionals seeking to gain a comprehensive understanding of economic theory and its practical applications. The book's clear and concise explanations, coupled with practical examples, make it an accessible and engaging read for anyone interested in economics.
