theories and applications Marcelo, Danilo F., Jr. creator author. text bibliography ph 2023 Second edition. monographic eng

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x, 213 pages ; 23 cm. "Millions of Filipinos do not have a full grasp of what Economics is and millions more do not care about it. Ironically, in other countries, an Economist belongs to a high value job and therefore receives higher pay than most other profession. In fact, there are positions in the government reserved exclusively for an Economist. In our country, however, the study of economics is not that brilliant choice among students. They do not see the need for it notwithstanding the fact that we have former Presidents Gloria Macapagal-Arroyo and Benigno Simeon Aquino as economics graduate. We also have Bangko Sentral ng Pilipinas Governor Amado Tetangco and Solita Monsod as economics graduate, and a lot more. The study of Economics is helpful not just in policy making but also applicable in the choices we make. In this book, I will try to explain the concepts and theories of economics and how we apply it in our daily lives in a very simplified manner. This book, however, remains to be intended for students studying basic economic principles. Economics is more than demand and supply. Economics also shows that people respond to incentives. You bundle a free conditioner to a large bottle of shampoo and people would shift to your brand; or allow a buyer t buy 1 and take another 1, and surely they will run to your store; or a discount to a next purchase - these are strategies to attract patrons because people respond to incentives"-- Preface of the book. Economic history of the Philippines -- Resource utilization -- Mixed economy -- Demand, supply, and equilibrium -- Elasticity -- Consumer behavior -- Cost -- Profit, loss, and perfect competition -- Monopoly -- Monopolistic competition -- Oligopoly -- Labor markets, wage rates, and labor unions -- Rent, interests, and profit. Danilo F. Marcelo Jr. Includes bibliographical references. Microeconomics HB172 .M373 2023 338.5 M331m 9786214271535 CSPC 260507 20260507154641.0 eng