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
a firm has fixed costs of $60 and variable costs as indicated at the bottom of this page. complete the table and check your calculations

what are the variables to be included in the social welfare of a country?

Strictly give the diff. btw the theory of reciprocal demand & theory of comparative advantage

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

Monopsony is single buyer of a commodity in the market.  The MRP slopes downward in an imperfectly competitive (resource) market serving an not perfectly competitive product mar

PRICE ADJUSTMENTS UNDER FIXED EXCHANGE RATE: In a flexible exchange rate regime trade deficits (surpluses) are automatically corrected by a depreciation (appreciation) of a co

Learning curve implies:  1) The requirement of labor falls per unit.  2) Costs will be high at 1 st and then will fall with learning.  3) After eight years the labor requ

Economic Rent - Economic rent is difference between what firms are willing to pay for the input less the minimum amount required to obtain it. * An Example - There are tw

illustrate and explain the changing demand for big mac using indifference curve and budget line

Question: Third degree price discrimination Suppose that a monopolist faces two markets with demand curves given by D(p 1 ) = 100 - p 1 D(p 2 ) = 100 - 2p 2 Assume that