Economics for the accountant

Paperback | January 8, 2012

byKemper Simpson

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This historic book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1921. Not illustrated. Excerpt: ... ciency of large-scale production2 and on the effect of machinery, for example, should have been based on inductive studies and not on deductive logic. The accountant and the technical expert is probably in a better position than the economist to solve many of these problems. The Study of Prices.--It was explained in Chapter HE that economics is sometimes defined as "the science that treats phenomena from the standpoint of price." It has also been pointed out that the study of prices enables the economist to measure the ? effectiveness with which society's wants are being satisfied. The consumer must pay a price for practically everything he consumes. The extent to which the consumer's wants are satisfied by the prices he pays is as much a psychological as an economic problem, but the economist has a more direct interest in it and, therefore, cannot neglect it.s This price is paid to the producer and divided by him between the factors of production, who are also claimants in distribution. The division of price by the producer between the different factors of production has probably received more attention from economists than any other economic problem. Inasmuch as these factors of production are only able to become consumers through the shares they receive in distribution, the economic well-being of consumers depends upon the fairness of distribution. If wealth were distributed so as to give but little satisfaction to those who produced much and too much satisfaction to those who produced little, such a system of distribution would be uneconomic, not merely because it would be unfair, but also because it would probably not encourage and stimulate productivity. 'See page 157. .See Chapter VI. It will be shown that the economist has three prin...

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This historic book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1921. Not illustrated. Excerpt: ... ciency of large-scale production2 and on the effect of machinery, for example, should have been based on inductive studies a...

Format:PaperbackDimensions:50 pages, 9.69 × 7.44 × 0.1 inPublished:January 8, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217466605

ISBN - 13:9780217466608

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