Economics For Dummies, 3rd Edition (For Dummies (Business & Personal Finance))

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In the absence of externalities (costs or benefits that fall on persons not directly involved in an activity), the market equilibrium quantity, q^*, is also the socially optimal output level. Very helpful although it would have been better if I had a hardcopy to see the graphs he referenced. Was erg duidelijk verwoord, al moet ik eerlijk toegeven dat ik niet altijd netjes alle wiskundige stappen heb nagevolgd.

The fundamental principles of economics are very easy to grasp and you certainly do not need to study the maths to understand them. There’s never enough time or money to do everything people want, and things like curing cancer are still impossible because the necessary technologies haven’t been developed yet. p>\n

Anti-recessionary economic policies come in two flavors:

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  Expansionary monetary policy: The government can increase the money supply to lower interest rates. You don't need to read far before you wonder how your government is making such a mess of running the country or why your company is not doing so well.
  
  Fiscal policy refers to using either an increase in government purchases of goods and services or a decrease in taxes to stimulate the economy. It also encompasses the study of economic growth and the methods governments use to try to moderate the harm caused by recessions.

  This book is really helpful, it gives information in the most simple way it can, as I am a foreigner therefore it's even more important to me.jpg\" width=\"441\" height=\"400\" />

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  Several prerequisites must be fulfilled before perfect competition and free markets can work properly and generate the socially optimal output level.