Economics, Microeconomics

Economics- Definition

Economics is the study of how societies utilize limited resources to make valuable commodities and allocate them among diverse people.

Microeconomics handles with:

• Conduct of individual units

• When Consuming; How we select what to buy

• When manufacturing; How we decide what to produce

• Markets: The communication of consumers and producers

• Evaluation of aggregate issues:

?? Inflation

?? Economic growth

?? Unemployment

Posted Date: 7/24/2012 6:47:06 AM | Location : United States







Related Discussions:- Economics, Assignment Help, Ask Question on Economics, Get Answer, Expert's Help, Economics Discussions

Write discussion on Economics
Your posts are moderated
Related Questions
THEORY OF DEMAND: The  consumer behaviour under indifferencecurve approach where it is assumed that the consumer possesses a utilityfunction. The next most important theory th

Q. What is Exchange Rate? Exchange Rate: The ‘price' at which currency of one country can be converted into the currency of another country. A country's currency is ‘strong,'or


Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Product Markets: Markets where produced services and goods are bought and sold (distinguished from markets for factors of production). Production: Process by which human labour

Determinants of Social Demand for Education - Equity Perfect equality is not observed in any society. Hierarchy in status, standards of living, capacities for effective demand

Suppose that you can produce high-quality beef at $3 per pound and sell it for $8 per pound. Low-quality beef costs $1 to produce but only sells for $4 per pound. If quality is uno

An important aspect of municipal finance involves capital budgeting and resource allocation.  In some cases, resource allocations involve expenditures that are not directly revenue

Question 1: (a) Describe what is Economic growth and describe its relationship with standard of living? (b) Assuming you are the government economist, what policy measures

Suppose you own a home remodeling company. You are currently earning short-run profits. The home remodeling industry is an increasing-cost industry. In the long run, what do you ex