Essays on Microeconomics

ROLE OF MICROECONOMICS Microeconomics (from Greek prefix mikro- meaning “small”) is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.[1][2][3] One goal of microeconomics is...

Over 55 percent of the world’s population lives in rural areas(Morvant-Roux,2017) where most households are excluded from the formal financial system. Access to financial service by poor households is therefore a necessity, given that it’s an opportunity for these excluded segment of the population to...

Current microeconomics theory and thought is based on the same premises it has been for years. These thoughts and theories were developed through research, observation, trial, and error. There are essentially ten principles in Economics. These principles will be discussed as well as the ideas...

What is ‘Microfinance’ Microfinance, also called microcredit, is a type of banking service that is provided to unemployed or low-income individuals or groups who otherwise have no other access to financial services. While institutions participating in the area of microfinance are most often associated with...

Introduction New Keynesian economics attempts to provide a microeconomic foundation for sticky wages and prices (Gartner, 2013). In macroeconomics, the ‘Keynes versus Classics’ debate began in the 1930s and has continued in various forms to this day. For instance, during the ‘great inflation’ of the...

In economics, microeconomics is a term that defines how people live and how the choices they make affect the economy respectively. In other words, it is a study of households and how their choices affect the price of market goods and the overall economy. Money...

Definition of economic It is saying economic is the art but in the modern society it is named social science. Considering of economic they will think about how cost and resources are efficient for human being’s unlimited wants. There are micro economic and macro-economic. Micro...

In order to create and maintain a high-functioning and prosperous society the process of aggregation is widely seen as a basic necessity. Within the scope of political economy, aggregation is an important process which creates cohesion by combining competing viewpoints and preferences in both the...