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Demand and Supply



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ISBN 9781032254463
April 30, 2022 Forthcoming by Routledge
129 Pages

 
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Book Description

First published in 1971, Demand and Supply is an introduction to the economics of resource allocation, often known as micro-economics. Ralph Turvey examines how the economy really works and does not just give the economists’ textbook version, which oversimplifies technology and exaggerates the importance of prices in adjusting supply and demand. Instead of offering theoretical diagrams and imaginary examples, he refrains from expounding those ideas that cannot be simply demonstrated or applied. But he includes sections on retail margins, urban land values, and the value of time – topics rarely dealt with in beginner’s books. Some examples of the examples are: university teachers’ pay; cotton spinning costs; pricing of tin cans; demand for farm tractors; newspaper economics; competition in the bus industry. This is the kind of economics used in practice and rests on down to earth fact finding. This book will be useful for both general readers and A- level and first year university students.

Table of Contents

Preface 1. Consumer Demand 2. Distributors’ Margins on Consumer Goods 3. Producer Demand 4. Costs 5. Competition 6. Equilibrium, Prices, Demand and Supply 7. Demand and Supply in Labour Markets 8. The Relative Prices of Different Manufactured Goods 9. The Value of Time and the Relative Price of Services 10. The Relative Price of Urban Space Conclusion Index

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Author(s)

Biography

Ralph Turvey