Microeconomics: An Aspect of Development

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The book delves into the fundamental economic principles of supply and demand, highlighting the interdependence of human wants and the necessity for production and exchange. It examines the complexities faced by firms, from small businesses grappling with supply rigidities to monopolistic entities imposing high prices. The analysis extends to how these challenges impact international trade, particularly in the context of rising global demand driven by population growth. It also explores the influence of small economic groups and individual decisions on commodity pricing and market dynamics.