Titlebook: Economics Revision Guide; Jack Harvey Textbook 1994Latest edition Jack Harvey 1994 economics.employment.equilibrium.exchange rates.interna

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Pablo Jesús Ramírez-Barajas,Sophie CalméA manufacturer has to decide how his goods shall be distributed to the consumer. He may prefer to leave this to specialist firms – the wholesaler and retailer, representing forward vertical disintegration.

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What Economics is AboutThe economic problem arises because, in comparison with our unlimited wants, we have only limited means. We solve by ‘economising’ - arranging our expenditure so as to obtain the maximum satisfaction from what resources we do have. The economic problem applies to individual consumers, producers and the government.

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How to Produce – the Theory of Production. The classical economists’ classification based on physical characteristics – land, labour, capital and organisation – has weaknesses, e.g. compartments overlap. But modern economists still use the classification to distinguish special characteristics useful for analysis

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