Advanced-Level and Freshman Economics with Model Answers

About the Book

Two veteran economists team up to provide an overview of basic economic principles in this textbook for students, business executives, and entrepreneurs. Kaela B. Mulenga and Francis L. Mupakati explore basic economic concepts and theories, clearly communicating their ideas in essay-type model answers that highlight how banks, free trade, inflation, and more affect the economy. The textbook reveals the logic economists use and the educated assumptions they make when conducting economic analyses pertaining to real-world scenarios. It provides a detailed overview of the free market enterprise system as well as a glossary of essential economic terms. The authors answer questions such as: • What are the major features of a free market economy? • What factors affect the elasticity of supply? • How does the market determine the equilibrium of price? In today’s fast-paced digital information age, one must possess the tools to make sense of what’s happening. Get the knowledge you need to respond to business challenges with this important resource.

About the Author

Kaela B Mulenga, Ph.D., M.Sc., Agricultural Economist—Held Swedish Institute Fellowship: Uppsala University, Uppsala, Sweden; Fulbright Scholar: Kentucky University, Lexington, Kentucky; and Kansas State University, Manhattan. He taught for years at Agric Economics, Macro/Micro Economics at the University of Zambia, and also worked with Federal Statistics, Canada. Francis L Mupakati, B.A. (Hons) Econ. University of Kent at Canterbury, U.K.; M.A. (Econ). Lakehead University, Ontario, Canada. After studying in the United Kingdom, he taught at the University of Zimbabwe before moving to Canada to work in the banking industry. He died in 2017.