By Ken Heather
This article brings the interesting topic of economics alive, addressing present and infrequently debatable concerns that experience an excellent influence upon us all, for instance: why does executive fear approximately inflation? what's a good salary? Is the Euro a good suggestion? The kingdom of the overall healthiness carrier, and so forth. The ebook adopts a distinct case-study strategy, to either stimulate and problem the coed. all the twenty instances has been conscientiously selected to accumulate an figuring out of monetary research, displaying how monetary conception pertains to the true global. for instance offer, call for and Elasticity is mentioned with assistance from the case of 'The inventory industry: a brief solution to riches or poverty' and Oligopoly is roofed with assistance from the case of 'Europe's airline costs: the sky is the limit?'
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Additional resources for Economics Theory in Action
The price you pay for a good, then, should reflect the opportunity cost of the resources allocated to its production. Take this book. You would have appreciated the chance to buy it for less. But many people – author, publisher and printer – had to give time to its production, time they could have used for something else. Owners of the capital, printing presses, and so on, could have allocated their resources elsewhere. The price reflected what you had to pay to draw resources into this area of activity – the resources’ opportunity cost.
Some profit will be retained. Large companies never concentrate exclusively on just one source but will use a variety of sources to raise funds for investment. At first it might seem that the ideal is to fund all its capital needs out of past profits since it will then not need to pay out interest or dividends. But we must remember two things. First, large companies’ capital needs will be too great for this to be possible. Second, even the use of internal funds has costs. There are opportunity costs in terms of the interest forgone by using the funds for capital investment rather than, say, lending to a bank.
Equity demand might then fall. Equities in other countries are also a substitute. It is perfectly possible to invest in European or Japanese firms.