Economics: An Introduction second edition offers a practical and accessible introduction to Economics. This text provides clear links to real-life situations, current economic data and examples and aims to support students’ understanding of key economic theory. Concepts such as price, utility, perfect competition, monopolistic competition, monopoly and oligopoly are explored, as well as the effect of economic actions on others and the environment. The problem of externalities receives ample attention, as well as the ways to counter or compensate for them. The contemporary, hands-on approach provides meaning, bringing theoretical concepts to life. It equips the lecturer with content that invites participation and stimulates debate. The outcome is that complex economic theories are demystified while South Africa’s uniquely challenging economic environment is unpacked. Features • Updated statistics, data and relevant examples give students an up-to-date view of key concepts in the context of South Africa. • Authentic, everyday situations relevant to a South African student are used to explain the fundamentals of economic theory. • Each chapter starts with an engaging case study that introduces the key concepts of the chapter, while relevant examples provide application of key concepts throughout the chapter. • Key terms boxes provide clear explanations of economic theory and concepts. • End-of-chapter summaries help to consolidate key points in the chapter. • Self-test questions with solutions help students assess their level of understanding. • A comprehensive test bank and PowerPoint slides provide support material for lecturers. This eBook is in ePDF format, which enables you to: • View the entire book offline on desktop or tablet; • Search for and highlight text; and • Add and edit personal notes directly in your eBook.