Grounded in a philosophical method of logical deduction, this textbook explores economic theory through basic principles like scarcity and individual choice. It aims to demonstrate that complex economic phenomena, such as pricing and consumption, can be understood through fundamental psychological concepts. By distilling pre-1930s price theory, the authors argue for its superiority over contemporary mainstream theories, presenting the material in an accessible format for students. The approach is illustrated through relatable scenarios, enhancing comprehension of economic principles.
