Essays on Branches of Economics

Types Of Economies: Free Market, Planned And Mixed Economy

The three main types of economies are free market, planned and mixed economy. By definition, a planned economy depicts an economic system that is controlled by a single authority. State-owned entities are responsible for making all the financial decisions relating to the production and distribution of goods and services within the economy (Evensky, 2005, p....
1093 Words 2 Pages

Macroeconomics: Inflation in Malaysia

Introduction Inflation measures the average price level of goods and services increasing over a period of time in the economy. These are usually expressed in a form of percentage, when inflation occurs it indicates a decrease the nation’s purchasing power. This causes a price increase which impact the general cost of living for the common...

China Economy: Government Policy For Mixed Economy

China’s economy is the second-largest in the world and growing at 6 % GDP per annum. Soon it will be the world’s largest. But who are the economic agents behind this change? Who are the true drivers affecting the economy? Are their social, market or government? In any economy, production, consumption and exchange are economic...
2172 Words 5 Pages

Perfect Competition In Microeconomics: Theory, Main Characteristics, And Horizontal Demand Curve

The individual firm faces a horizontal demand curve in perfect competition because under perfect competition firms are price takers and thus cannot influence the price due to their insignificant sizes. Each firm is assumed to be a very small part of the market; therefore, their behaviour is not capable of changing the equilibrium market price....

Utility In Microeconomics

Utility is a significant term while talking about the economy of a nation. So what does utility really mean? The monetary term of utility was begat by eighteenth-century Swiss mathematician Daniel Bernoulli. The utility is the fulfillment a purchaser gets in the wake of utilizing or expending an item which can be as products or...
1488 Words 3 Pages

Microeconomics Essay: Ridesharing Industry In America

Essay Thesis: The industry chosen for this paper is the ridesharing economy, which falls under the gig or sharing economy. The ridesharing economy with key players such as Uber and Lyft has continually led to the decline of the conventional taxi industry. Although the public commends the sector, it has come led to economic disruptions...
673 Words 1 Page

Microeconomic Factors Impacting Personal Computer Industry In India

1. Introduction: The personal computer (PC) market is segmented into two parts by distribution channel and by-product. On the basis of product, PC is further divided into consumer desktop, commercial desktop, commercial notebook. Currently, India’s personal computer is declining at the rate of 8.3%. India personal computer market is driven by the increase in the...
2040 Words 4 Pages

Importance Of Microeconomics In Business

Introduction Managing a business firm is a critical task as it requires knowledge of different theories that are necessary to make the firm successful. Among such theories, microeconomic theories are most important as these theories impact every decision of a firm related to production. Theories of microeconomics gives the notion of the understanding cost of...
1163 Words 3 Pages
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