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.
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来自FIRM LEVEL ECONOMICS: CONSUMER AND PRODUCER BEHAVIOR的热门评论
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.
Excellent course and very well explained every basic economic concept with real examples.
Thanks a lot Professor for allowing me to audit this course, wishing you a great success ahead!!
It was a very interesting course. The instructor taught really well and all his teachings were very easy to understand. I learnt a number of valuable lessons and skills in this course.
This is a very powrefull course about Economics, Consumer and Producer. Everyone must go through this course and its not that much easy as much people may guess about this.