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.
Este curso faz parte do Programa de cursos integrados Economia gerencial e análise de negócios
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Habilidades que você terá
Universidade de Illinois em Urbana-ChampaignUniversidade de Illinois em Urbana-Champaign
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
- 5 stars85,19%
- 4 stars12,73%
- 3 stars1,27%
- 2 stars0,26%
- 1 star0,52%
Principais avaliações do FIRM LEVEL ECONOMICS: CONSUMER AND PRODUCER BEHAVIOR
Though being a student in technical field, i was easy for me to become familiar with the subject, as all basics were point to point explained. Larry sir was amazing xD. "I have got the pen"
Had lot of fun learning in this course. Although I had a basic concept of economics but with the help of this course I now have a clear and better understanding on Consumer and producer behavior.
In the beginning I thought this was going to be a very basic course, but the way the professor explained the topics really make it interesting a practical, going beyond the classical economic theory.
Professor Larry DeBrock has a very hands on approach to the concepts of economics. He integrates theoretical content with relevant practical examples , helping to understand the framework easily.
Sobre Programa de cursos integrados Economia gerencial e análise de negócios
In order to effectively manage and operate a business, managers and leaders need to understand the market characteristics and economic environment in which they operate. In this specialization, you will build a solid understanding of the operation of markets and the macro-economic environment with real-world examples. You will be able to identify firm and country-level economic factors that impact business decisions, develop an analytical framework using statistical tools, and apply economic theory and data in the analysis of business environment and trends to make effective business decisions.
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