Although economics is considered a modern science, it has developed rapidly due to the great attention it has received from many thinkers, politicians, and economists. This is because it specializes in and is linked to addressing the most significant problem that has faced and continues to face humanity: the economic problem. Therefore, it has become necessary for the student and reader who wishes to learn the basics of this science to first study microeconomics, as it represents the cornerstone of economics in general and economic theory in particular. Despite the multiplicity of sources and books available in the field of microeconomics, they are still few, considering that each economic researcher has approached the subject from their own perspective, focusing on certain aspects over others. From this standpoint and through our experience in teaching this subject for several years, and by reviewing many of these sources, we found that the subject of microeconomics needs further study and analysis to fill the gaps. Additionally, there is a need to adopt new and advanced methods in analysis and study, such as using mathematical methods, tables, and graphs, in addition to practical applications that bridge descriptive and quantitative presentation, and traditional and modern methodologies. All this is to present this subject in a way that helps the student and reader understand and absorb many economic concepts that may be difficult to comprehend based on theoretical analysis alone. The most important of these is the theory of the economics of the unit or the so-called price theory, which is concerned with studying the economic behavior of each decision-making unit (such as consumers, producers, and owners of economic resources) in a free or mixed economy.

This book includes six chapters. The first chapter clarifies economic concepts like the science of economics and the economic problem. The second chapter addresses the theory of prices and related aspects of demand, supply, and elasticities, leading to price determination in a free market. The third chapter analyzes consumer behavior using either the utility approach or the indifference curve approach to determine the equilibrium point. The fourth chapter covers the theory of production, including production functions, the law of diminishing returns, and stages of production, to identify the optimal stage. The fifth chapter addresses the theory of the firm, which deals with the analysis of both revenues and costs, in both the short and long run.

• Number of Pages: 288
• Year of Publication: 2020
• Binding Type: Cardboard
• Edition Number: 7
• Printing Color: Black
• Size (cm): 17x24
• Weight (kg): 0.580
• Barcode: 9789957065379