IE&IFS: Concepts and Practice · Part B: Economic Concepts Related to Banking

Chapter 7: Economics, its kinds, and supply and demand

What economics studies, how economies decide, and how demand and supply set prices, with elasticity at the desk.

Buyers of the e-book, or of the print copy, which includes it, read the whole chapter. Everyone can read the free sample, pages 1 to 24 of the e-book.

In this chapter

• 7.1What economics studiesp. 87
• 7.2Kinds of economies and their central problemsp. 88
• 7.3Demandp. 89
• 7.4Supply, equilibrium, floors and ceilingsp. 90
• 7.5Elasticity, and what prices mean for a bankp. 91
• Exam traps and quick checksp. 92
• Practice: 16 questions in three roundsp. 93
• Answers, with every wrong option explainedp. 95
• Make it stickp. 97
• Chapter 7 on one pagep. 98

Corrections and updates

None for this chapter so far. Every correction to the book, and any rule that changes after its date, is listed on the errata page.