Business 2000: How to get to grips with economics

In the second part of this Leaving Cert guide to neoclassical economics, Brian O'Boyle looks at supply and demand, elasticity, firm behaviour and market structures.

18th March, 2012
Business 2000: How to get to grips with economics
{ }

Once we have understood the centrality of choice-making on the basis of rational calculations, as seen last week, the whole of microeconomics becomes immediately intelligible. With supply and demand, we are introduced to a perfectly competitive market with millions of rational calculators choosing how to allocate their (scarce) resources.

Those choosing to buy the product must measure their extra benefits (measured in units of utility) against their extra costs (captured by the price mechanism), and...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago