What is economics about, Microeconomics

Assignment Help:

What is economics about?

Economics:

Economics is a social science which studies individuals’ economic behavior, economic phenomenon, ands also how individual agents, as like consumers, firms and government agencies, create trade-off choices which allocate restricted resources with competing uses.

People’s desires are infinite, but resources are inadequate, thus individuals must make trade-offs. We require economics to study this basic conflict and how these trade-offs are best made.


Related Discussions:- What is economics about

Determinants of private demand - ability to pay, Determinants of Private De...

Determinants of Private Demand - Ability to Pay In a developing country like India, of all the factors determining investments in education, the most important factor is the ‘

Help, #questioSuppose the US and Mexico both produce semiconductors and aut...

#questioSuppose the US and Mexico both produce semiconductors and auto parts and the US has a comparative advantage in semiconductors while Mexico has a comparative advantage in au

Economic institutions, Since World War II, North Korea has had a centrally ...

Since World War II, North Korea has had a centrally planned economy in which the government makes the big decisions on how resources will be allocated. Why would you expect North K

What are the policies and long-run growth of us, What are the Policies and ...

What are the Policies and Long-Run Growth In many concerns it is decidedly odd that world distribution of output per worker is as unequal as it is. Migration, World trade and f

Mediterranean regional project (mrp) technique, Mediterranean Regional Proj...

Mediterranean Regional Project (MRP) Technique This technique had been initially employed by the OECD (Organisation of Economic Cooperation and Development, Europe) to prepare

Cost curves, If the average variable cost curve is horizontal, what is the ...

If the average variable cost curve is horizontal, what is the shape of the short-run marginal cost curve? What shape would the short-run average cost curve be?

Game, Suppose that there are n bidders whose valuations vis are drawn indep...

Suppose that there are n bidders whose valuations vis are drawn independently and identically from the distribution F over [0, ?]. Describe and derive the symmetric , monotonic equ

Paramagnetism, chemistry assignments ,  Some normally nonmagnetic substance...

chemistry assignments ,  Some normally nonmagnetic substances are attracted by a magnetic field and studies of these "paramagnetic" substances give information about the number of

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd