Unit 2-FIRMS, MARKETS, AND ECONOMIC STAKEHOLDERS
Unit Description and Learning Goal:
This unit introduce you to the Firm and Market Structures , markets and theories of the firm. Economic Trade-Offs and Decisions.
You will analyze economic trade-offs from the perspective of different stakeholders . It will also introduce you to the role of Government in redressing economic Imbalance.
Success criteria
After completion this unit you will be able to understand the theory of the firm, the relationships that exist
between a firm’s revenues, costs, and profits. The Market structure, and competition. The Role of government in creating Economic Balance.
Overall Expectation
C1.2 describe various types of market structures (e.g., monopoly, perfect competition, oligopoly, monopolistic competition) and assess their advantages and disadvantages for different stakeholders
