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HomeBooks, Movies and MusicBusiness & FinanceBusiness & EconomicsBasic Economics by Thomas Sowell (Author)
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"Basic Economics" by Thomas Sowell is a comprehensive introduction to economic principles written in plain English for readers without prior knowledge of economics. The book aims to explain how economies function, focusing on the role of scarcity, trade-offs, and incentives in shaping economic outcomes.
Sowell breaks down economics into six main sections: Prices and Markets, Industry and Commerce, Work and Pay, Time and Risk, The National Economy, and The International Economy. He emphasizes that economic decisions always involve trade-offs because of limited resources and that prices serve as signals to coordinate production and distribution efficiently.
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The book discusses essential concepts such as the role of profits and losses in driving business efficiency, the importance of productivity for wages, the unintended consequences of policies like price controls and minimum wage laws, and the impact of taxes and subsidies. Sowell also covers international trade, specialization, and the contrasting effects of free markets versus central planning.
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1 BOOK
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- SKU: BO086BM52KWVWNAFAMZ
- GTIN Barcode: 09780517548233
- Weight (kg): 0.1
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Books Basic Economics by Thomas Sowell (Author)
KSh 1,530
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