Principles of Economics / Edition 1

Principles of Economics / Edition 1

by Alfred Marshall
     
 

ISBN-10: 1573921408

ISBN-13: 9781573921404

Pub. Date: 05/28/1997

Publisher: Prometheus Books

British economist Alfred Marshall (1842-1924) was one of the founders of the "neoclassical" school in which economists studied both wealth and human behavior to understand why we make the choices we do. First published in 1890, Principles of Economics stands as Marshall's most influential work. This abridged edition offers a general introduction to the study of…  See more details below

Overview

British economist Alfred Marshall (1842-1924) was one of the founders of the "neoclassical" school in which economists studied both wealth and human behavior to understand why we make the choices we do. First published in 1890, Principles of Economics stands as Marshall's most influential work. This abridged edition offers a general introduction to the study of economics, dealing mainly with normal conditions of industry, employment, and wages. He begins by isolating the primary relations of supply, demand, and price in regard to a particular commodity. Based on his study of science, history, and philosophy, Marshall argues that, while fragmentary statistical hypotheses are used as temporary aids to dynamic conceptions, the central idea of economics must be that of a living force and movement, and its main concern must be with human beings who are impelled, for better or worse, to change and progress.

Product Details

ISBN-13:
9781573921404
Publisher:
Prometheus Books
Publication date:
05/28/1997
Series:
Great Minds Series
Edition description:
ABR
Pages:
319
Sales rank:
1,109,267
Product dimensions:
5.40(w) x 8.40(h) x 0.75(d)
Lexile:
1340L (what's this?)

Table of Contents

Preface to the First Edition
Preface to the Eighth Edition
The Substance of Economics14
Economic Generalizations or Laws29
The Order and Aims of Economic Studies38
Wealth54
Production. Consumption. Labour. Necessaries63
Income. Capital71
Wants in Relation to Activities86
Gradations of Consumers' Demand92
The Elasticity of Wants102
Choices between Different Uses of the Same Thing. Immediate and Deferred Uses117
Value and Utility124
Introductory, On Markets139
Temporary Equilibrium of Demand and Supply147
Equilibrium of Normal Demand and Supply153
The Investment and Distribution of Resources167
Equilibrium of Normal Demand and Supply, Continued. with Reference to Long and Short Periods179
Joint and Composite Demand. Joint and Composite Demand. Joint and Composite Supply197
Prime and Total Cost in Relation to Joint Products. Cost of Marketing. Insurance against Risk. Cost of Reproduction210
Marginal Costs in Relation to Values. General Principles219
Marginal Costs in Relation to Values. General Principles, Continued229
Marginal Costs in Relation to Agricultural Values241
Marginal Costs in Relation to Urban Values256
Equilibrium of Normal Demand and Supply, Continued, with Reference to the Law of Increasing Return271
Theory of Changes of Normal Demand and Supply, in Relation to the Doctrine of Maximum Satisfaction278
The Theory of Monopolies293
Summary of the General Theory of Equilibrium of Demand and Supply312

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