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DED1208 : INTRODUCTION TO MICRO-ECONOMICS
| Institution | Mount Kenya University |
| Course | DIPLOMA IN SUPPLIES... |
| Year | 1st Year |
| Semester | Unknown |
| Posted By | francis nduni nzambei |
| File Type | |
| Pages | 108 Pages |
| File Size | 1.23 MB |
| Views | 307 |
| Downloads | 0 |
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Description
These notes introduce the basic principles of microeconomics, focusing on how individuals and firms make decisions when resources are limited. They explain key concepts like scarcity, choice, and opportunity cost, and how these affect production and consumption.
The notes also cover how demand and supply interact to determine prices, including concepts like elasticity, market equilibrium, and shifts in demand and supply.
In addition, they explore different market structures (perfect competition, monopoly, oligopoly), production and cost theories, and basic macroeconomic topics like national income, inflation, and unemployment.
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