Rangarirai Mbizi

Business Economics Serries 1: Applied Microeconomics Rangarirai Mbizi

This book covers micro economics principles and their applications in business operations. it starts by introducing economics subject (defining) and then the theory of consumer buyer behavior where issues to do with demand and supply analysis were looked at with. the book proceeded to look at the theory of production and costs- break even points as well as shut down points were discussed. cost curves both in the short run and long run were discussed. the book also looks at the theory of distribution where issues to do with factor payments were looked at. it also looks at market structures which includes monopoly, perfect competition, monopolistic competition. the English has been kept simple, but rich in vocabulary.the book winds up by looking at welfare economics and taxation. Business examples have been used to clarify economic propositions.