University economics : element of inquiry

By:

Alchian, Armen A

Material type: Text

TextPublication details: London; Prentice Hall International; 1974Edition: 3rd edDescription: 857 pISBN:

139386211

Subject(s):

Economic

DDC classification:

330 ALC

Summary: Man wants more than there is any prospect of obtaining. As soon as we have more of this, we want still more of it and more of that… and that. To say that we always want more is to say that man lives, even in the most affluent societies, in a state of scarcity. The response to scarcity – What determines how much each person produces and gets of the total? And what determines the particular mix of goods and services s/he consumes? -- constitutes the area of economic study. Economics studies the competitive and cooperative behavior of people in resolving conflicts of interest that arise because wants exceed what is available.

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Holdings
Item type	Current library	Call number	Status	Date due	Barcode	Item holds
Donated Books	Gandhi Smriti Library	330 ALC (Browse shelf(Opens below))	Available		DD6871

Total holds: 0

Man wants more than there is any prospect of obtaining. As soon as we have more of this, we want still more of it and more of that… and that. To say that we always want more is to say that man lives, even in the most affluent societies, in a state of scarcity. The response to scarcity – What determines how much each person produces and gets of the total? And what determines the particular mix of goods and services s/he consumes? -- constitutes the area of economic study. Economics studies the competitive and cooperative behavior of people in resolving conflicts of interest that arise because wants exceed what is available.

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