Principles of Microeconomics (MPME511)
University of South Africa (Unisa)
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Principle of microeconomics Chapter 1 to 11 summary (MPME511) MID YEAR EXAM SOL PLAATJE
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Introduction to Economics: Study Notes Organized, concise, and visually
appealing notes for effective learning
1 What is Economics?
• Definition: The study of how scarce resources are used to satisfy human wants.
• Multiple Perspectives:
– George Leland Bach: Study of how scarce resources satisfy human wants.
– Michael Parkin: Social science studying choices by individuals, governments, and societies
under scarcity.
– Interaction of people with each other and their natural surr...
Summary
Principle of microeconomics Chapter 1 to 11 summary (MPME511) MID YEAR EXAM SOL PLAATJE
Last document update:
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Introduction to Economics: Study Notes Organized, concise, and visually appealing notes for effective learning 1 What is Economics? • Definition: The study of how scarce resources are used to satisfy human wants. • Multiple Perspectives: – George Leland Bach: Study of how scarce resources satisfy human wants. – Michael Parkin: Social science studying choices by individuals, governments, and societies under scarcity. – Interaction of people with each other and their natural surr...
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