Robinson Crusoe Economy

Robinson Crusoe Economy

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Description

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. As a concept in economics, it assumes importance due to its ability to simplify the complexities of the real world. The implicit assumption is that the study of a one agent economy will provide useful insights into the functioning of a real world economy with many economic agents. This article pertains to the study of consumer behaviour, producer behaviour and equilibrium as a part of microeconomics. In other fields of economics, the Robinson Crusoe economy framework is used for essentially the same thing. For example, in public finance the Robinson Crusoe economy is used to study the various types of public goods and certain aspects of collective benefits. It is used in growth economics to develop growth models for underdeveloped or developing countries to embark upon a steady growth path using techniques of savings and investment.show more

Product details

  • Paperback | 84 pages
  • 152 x 229 x 5mm | 136g
  • Sent Publishing
  • United States
  • English
  • black & white illustrations
  • 6136254999
  • 9786136254999