ECON 110 Lecture 1: ECON 110- Outline Themes, Types of Markets, Economic- Lec Notes
21 Sep 2019
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Microeconomics is a branchof economicsthat studieshowindividualsand firms settle on choices to allot constrained assets, regularly in business sectors where merchandise or administrations are being purchased and sold. Layout: chap 1: optimization and allocation, chap 1: definition and various type of markets, chap 1: economic measurement, chap 1: economic analysis. A spot where purchasers and venders meet up to trade some item or great. Factor market firms people table 1: product and factor markets. In a factor showcase, purchasers are firms who need to employ laborers and acquire cash for capital consumption, and merchants are people who give work and set aside cash in banks. Table 2: types of markets based on influence on price. Table 2 shows various markets dependent on item separation and influence on price. Influence on price increases in moving from competitive markets to monopoly. Not estimated as for time. for example, value, riches, inventories. Estimated per some unit of time. for example, generation, consumption, income.
