Microeconomics analyzes market failure, where markets fail to produce
Page 1 of 1
Microeconomics analyzes market failure, where markets fail to produce
Microeconomics (from Greek prefix micro- meaning "small" + "economics") is a branch of economics that studies the behavior of how the individual modern household and firms make decisions to allocate limited resources.[1] Typically, it applies to markets where goods or services are being bought and sold. Microeconomics examines how these decisions and behaviours affect the supply and demand for goods and services, which determines prices, and how prices, in turn, determine the quantity supplied and quantity demanded of goods and services.[2][3]
This is a contrast to macroeconomics, which involves the "sum total of economic activity, dealing with the issues of growth, inflation, and unemployment.[2] Microeconomics also deals with the effects of national economic policies (such as changing taxation levels) on the before mentioned aspects of the economy.[4] Particularly in the wake of the Lucas critique, much of modern macroeconomic theory has been built upon 'microfoundations' — i.e. based upon basic assumptions about micro-level behavior.
One of the goals of microeconomics is to analyze market mechanisms that establish relative prices amongst goods and services and allocation of limited resources amongst many alternative uses. Microeconomics analyzes market failure, where markets fail to produce efficient results, and describes the theoretical conditions needed for perfect competition. Significant fields of study in microeconomics include general equilibrium, markets under asymmetric information, choice under uncertainty and economic applications of game theory. Also considered is the elasticity of products within the market system.
local search engine optimization
Übersetzung Deutsch Englisch
This is a contrast to macroeconomics, which involves the "sum total of economic activity, dealing with the issues of growth, inflation, and unemployment.[2] Microeconomics also deals with the effects of national economic policies (such as changing taxation levels) on the before mentioned aspects of the economy.[4] Particularly in the wake of the Lucas critique, much of modern macroeconomic theory has been built upon 'microfoundations' — i.e. based upon basic assumptions about micro-level behavior.
One of the goals of microeconomics is to analyze market mechanisms that establish relative prices amongst goods and services and allocation of limited resources amongst many alternative uses. Microeconomics analyzes market failure, where markets fail to produce efficient results, and describes the theoretical conditions needed for perfect competition. Significant fields of study in microeconomics include general equilibrium, markets under asymmetric information, choice under uncertainty and economic applications of game theory. Also considered is the elasticity of products within the market system.
local search engine optimization
Übersetzung Deutsch Englisch
lunamoonfang- Member
- Posts : 126
BDB Credits : 255
Rep : 0
Age : 32
Location : Vietnam
Job/hobbies : gasdasdf
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Fri Mar 23, 2012 11:58 am by ailsaparker15
» How can i play texan holden poker in my nokia C3-00?
Mon Nov 28, 2011 1:15 pm by Carstensen
» Pet Franchisee
Mon Nov 14, 2011 2:07 pm by ailsaparker15
» Anyone think these are good for my forum?
Mon Nov 14, 2011 12:42 pm by ailsaparker15
» hello everyone
Thu Nov 03, 2011 7:49 am by ClintonSparano
» Features of FM Antenna
Tue Oct 25, 2011 10:17 am by ailsaparker15
» Inventory Management Software for Effective Warehouse Goods Management
Fri Oct 21, 2011 7:34 am by ailsaparker15
» features of Half log siding system
Thu Oct 13, 2011 11:22 am by ailsaparker15
» Things to know before installing a solar power system.
Sat May 28, 2011 1:23 pm by JaneAlbert