The key goal of Survival Math for Marketers is a solution to a common problem in business - namely, the lack of mathematics know-how among many business students and practitioners. There is an untapped ‘latent demand’ in the marketing world from many people whose careers have been - or will be - thwarted because the math ‘haves’ dominate the ‘have nots’. This book as an easy, fun, and inexpensive solution to this age-old problem.
Survival Math for Marketers is designed to be a useful book for introductory marketing courses. It is clearly written, filled with good examples, illustrations and makes entertaining reading.
Chapter Five: An Economics Excursion
An Economics Excursion
Economics, Science, Markets, and Demand
Those of you who have not had the good fortune to major in economics in college have missed some very valuable lessons that are buried in often excruciating detail. The irreverent view of economics is that it is the only subject in which the final exam questions each year are the same, but each year the correct answers to the questions are different.
The uncertainties underlying that assertion, which often leave economists with omelets on their faces after making predictions, is that economics is an attempt to apply scientific and mathematical principles to understanding and predicting an aspect of human behavior.
You should also be aware that before World War II, the academic subject that we know today ...