Understand Economics from Scratch

Understand the laws of modern economic operation and open the door to the economic world. This book uses easy-to-understand language, from supply and demand to marginal effects, from opportunity costs to inflation, and introduces the basic concepts and principles of economics in a simple and easy-to-understand manner. To give a practical example, many people think that their salary is determined by their boss, and many people think that they can get more salary by working hard. In fact, it is determined by the market. Shopping decisions in daily life actually have opportunity costs. When we make a choice to purchase a certain product, we actually give up the value of other options. Understanding common sense in economics can help us better understand the operating laws of the economic world and make smarter decisions in life. [Three core questions] 1. Why is economics important to ordinary people? : Economics can help ordinary people understand market laws, make reasonable economic decisions, better manage personal finances and plan future life. 2. How to use economic thinking to solve daily life problems? : You can analyze costs and benefits, consider opportunity costs, pay attention to supply and demand, etc. 3. What impact do macroeconomic policies have on individuals? : Macroeconomic policies will affect employment, prices, interest rates, etc., Which will in turn affect personal income, consumption and investment. Content Sharing 1. The purpose of economics is to solve practical problems in human life. It is not a lofty theory, but closely related to our daily lives. 2. Economics is like a key that can help us open the door to understanding social and economic phenomena. 3. In a market economy, the price mechanism is like an invisible hand, guiding the rational allocation of resources. 4. Opportunity cost is an important factor that we must consider when making decisions. It allows us to weigh various options more carefully. 5. Economics not only focuses on economic growth, but also on social equity and sustainable development.

I have been reading it in the past few days and I feel that I have learned a lot! Indeed, economics can make a person smarter. It is economics that allows me to understand the essence of the operation of this social economy and allows me to understand the world more clearly! ! For this book, while telling the principles of economics, the author not only explains his views in easy-to-understand language and vivid descriptions, but also attaches interesting practical cases. Among them, he reveals the essential principles behind economic phenomena through the analysis of many economic phenomena in our real life, thereby conveying the corresponding economic knowledge. Reading this book will definitely make me fall in love with economics!

I studied economics in college, and was particularly impressed by Mankiw's economics. Mankiw's top ten economic principles: 1. Trade-offs: the standard is maximum utility. The essence of decision-making is to pick the best one from many choices. 2. Opportunity cost: the maximum benefit that can be obtained if you do not make this choice. Opportunity cost occurs because resources are scarce. 3. Margin: Marginal utility diminishes. The core is to ask demand: is the demand met? Can it meet a variety of needs? How much consumer demand for an item depends on how much marginal utility it gets from consuming this item. There are no products that cannot be sold, only products that consumers do not need... We can learn a lot in the book.

Economics is a brilliant science of success and happiness. Economics can solve all problems in life. It can not only tell people "what", but also "why" and "how". At the same time, it inspires us to think like economists and no longer serve as "cannon fodder" for capitalists and speculators. The content is not boring or complicated, the writing is concise and vivid, the cases are close to life, and it is appropriately matched with pictures and tables, making economics an interesting and exciting interpretation!

Economics is a science that studies the rational allocation and full utilization of resources. It can help us think more carefully when making decisions. Basic knowledge in economics, such as opportunity cost, sunk cost, marginal effect, compound interest, etc., Can allow us to re-understand our views on costs, thereby affecting your consideration of costs when making decisions. Today, with the rapid economic development, various fraud methods are emerging in an endless stream. If we do not use economic thinking to think and analyze rationally, we will easily fall into traps carefully designed by others.

This book is not bad. It is easy to understand. From the shallower to the deeper, it introduces the principles of supply and demand, the rational economic man hypothesis, and also covers the application of economics in life, consumption and economics, price discrimination, meeting the needs of different groups of people, pricing based on time, pricing based on age, and whether it is Member pricing, as well as the relationship between wage levels and the economy. The labor factors are mainly labor, land, capital, labor demand and product prices, technological innovation, and other factors. There is also the relationship between banking policy and the economy, the deposit reserve ratio and the discount rate. Compare these two contents. Clearly, deposit reserves mean that commercial banks need to deposit part of their deposits into the central bank. This ratio is stipulated by the central bank. Discounting means that some companies give the bills they receive to the bank. If the bank wants to apply for some deposits from the central bank, the applied bills will be discounted. There are also taxes and economics. The relationship mainly includes value-added tax, also called turnover tax, and consumption tax. Finally, there is the principle of diminishing marginality. Everything will develop in a diminishing direction. There is also the concept of utility, the sense of satisfaction in the use of a product or service. After reading this, you can look at the parts you are interested in again.

The writing is very good. As the name suggests, it gave me a preliminary understanding of economics. The book records the stories of many economic celebrities, and combines stories from different periods at home and abroad to guide readers to think🤔

In short, economics is a discipline that studies the laws of social operation and resource allocation. For beginners, it is very important to understand the basic concepts and theories of economics. Economics includes macroeconomics and microeconomics. The former studies the operating rules of the country's overall economy, while the latter focuses on the economic activities of individuals, enterprises and other small units. At the same time, you need to understand basic economic indicators such as GDP, inflation, unemployment, and interest rates and their meanings. Basic economic theories include supply and demand theory, price theory, marginal utility theory, etc. These theories are the foundation of economics, and mastering them will help you better understand complex economic phenomena. At the same time, reading news reports and analyzing economic events and phenomena can help beginners better understand the application of economic theories. It also helps to build your own economic awareness and judgment.

My thoughts after reading it; the writing is very detailed and the metaphor is very appropriate👍It is very useful for me who has zero foundation and wants to learn finance.

I especially like the ten principles of economics mentioned in the book, which inspired me deeply. However, I kind of hate some characters in the book, such as the economist who is always self-righteous. He is always there to show off his knowledge, which makes people feel very uncomfortable. But overall, this book is still worth reading. It is a good introductory book for people like me who are interested in economics.

Books are the ladder of human progress. ——Gorky

"Food is the first priority for the people, and home is the first priority for the family."

It is suitable for people who do not know much about economics as an introductory book to improve their self-awareness.

Not bad, as a book to learn about economics. Just right

A very good book for economic laymen!

Very useful, take a look to gain insights and accumulate knowledge!

Not bad, worth a look

Learned a lot of useful things

Learn some economics and make your life clear

Thank you very much to the author, well written

This book contains too many translator's views, and there are translation errors in some places. However, economics is about financial management knowledge, and it is beneficial to learn it.

The economy is related to people's livelihood. Only by understanding the economy can you understand the various aspects of time!

Content is easy to understand

It is the most suitable teaching material for beginners

Very good. It taught me a lot about economics.

Learned a lot

Makes people think and think.

I feel like I haven't finished writing yet.

The content of this book is very good

Good knowledge of economics