Themes of microeconomics, Microeconomics

Themes of Microeconomics

?? As per Mick Jagger & the Rolling Stones, “You can’t always get what you want”.

Why Not?

         ?? Restricted Resources

         ?? Infinite Wants

?? Allotment of limited Resources and Trade-offs

         ?? In a market economy

         ?? In a planned economy

?? Microeconomics and Optimal Trade-offs

         1. Consumer Theory

         2. Workers or labours

         3. Theory of the Firm

?? Microeconomics and Prices

          – The function of cost in a market economy

          – How prices are calculated

Microeconomics vs. Macroeconomics

Microeconomics is the basis of macroeconomic analysis.

Posted Date: 7/24/2012 6:49:43 AM | Location : United States

Related Discussions:- Themes of microeconomics, Assignment Help, Ask Question on Themes of microeconomics, Get Answer, Expert's Help, Themes of microeconomics Discussions

Write discussion on Themes of microeconomics
Your posts are moderated
Related Questions
Deviation from ideal gas behavior The Van der Waal''s Equation This is observed, deviations from gas laws are high under high pressures & low temperatures. The Van der Waal suggest

1. Utilize Okun's law to answer the questions below; u t  - u t-1  = -0.4(g yt  - 3%) Assuming u t-1  = 7% a. Calculate the change in u (u t  - u t-1 ) for each of the follo

how do minimum units cost change with changes in fixed cost

When is the economic theory useless? One misunderstanding is to under-estimate the role of an economic theory. Several people thought an economic theory useless since they thin

The following represents the potential outcomes of your first salary negotiation after graduation: Assuming this is a sequential move game with the employer moving first, indicate

concept of innovation theory of profit and criticism

1.  Seller has ample time to adjust to price change. 2.  Buyer's response to small price change is significant. 3.  Buyers are faced with many options when deciding to make a

The Supply Curve  – The supply curve exhibits how much of a good manufacturerss are willing to sell at a particular given price, holding constant  other factors that can aff