Economic Principles 1

This Chapter looks at the labour discipline model in analysing how much effort workers are willing to provide to the company, while seeing why theses values may differ.

This chapter covers the price firms are willing to set in order to maximise profits, as well as maximise the surplus they can achieve from the sales. It covers the effects of elasticities, and things which influence market power.

This chapter looks at the equilibrium in price achieved in competitive markets.

This Chapter covers the links between wage-setting and price-setting in determining the wage of employees. By looking at the graphs in depth we can find an equilibrium in the wages set.