Micro Economics

Demand and Supply.

Micro means a small part . Microeconomec thus denete the study of small individual . Microecomomic can be divided into three major types they are as fallow:

1. Simpke Micro statics:- Simple micro stastic analysis studies a set of micro-economic variable and their relation when they are in equilibrium at a given point of a time. It does not explain how the equilibrium has been brought .

Equilibrium position is attained when demand and supply forces to equal to each other but simple micro stastics can be

employment and unemployment

Microeconomics does not specifically refer to states; rather, it focuses on the behavior of individual consumers and firms in making decisions about resource allocation, production, and consumption. It examines how these entities interact within markets and how they respond to changes in prices, demand, and supply. While microeconomic principles can be applied to state-level analyses, the field itself is primarily concerned with smaller-scale economic activities rather than broader state or national economies.

ISO stands for the International Organization for Standardization, this organization assists in holding manufacturers product to certain standards on a global scale. These standards enable products and services of different origins to be compatible and interoperable globally.

feasible solution

Market failure and Market structure.

Market failure and Market structure.

The answer depends on a number of things. The larger the school, the more it will cost. The cost will also depend on what materials are used to build the school. You also have to consider the wages of the workers and the cost for any equipment needed.

Another factor would be where in Africa you are going to build the school. There would be fees to pay and taxes, depending on whichever governmental rules you would have to follow. Some areas of Africa would be more expensive than others due to the governmental guidelines.

The top three microeconomic problems typically include scarcity, which arises when limited resources cannot meet unlimited wants; opportunity cost, the value of the next best alternative foregone when a choice is made; and market failure, which occurs when the allocation of goods and services is not efficient, often due to externalities, public goods, or information asymmetries. These issues can lead to inefficient resource allocation, inequitable outcomes, and unmet consumer needs. Addressing these problems is crucial for improving overall economic welfare.

The role of capital market to Nigerian economy is to mobilize long-term funds. To provide a mechanism for mobilizing private and public savings and makes such funds available for productive purposes.

Mathematics is Queen of Science. Just for convenience we have divided subjects as science and art. But now a days we have consider all as science. See even politics is treated as political science. So all subjects as they use mathematics will be more precisse. Hence economics though it is an art subject needs mathematics for precise study.

In mathematics a game is a situation where there are multiple people with conflicting interests. Game theory is a field of applied mathematics which is divided into two fields. The first is classical game theory and the second is combinatorial game theory.

In combinatorial game theory, one deals with games such as chess, checkers, and other two person games. The idea is that every possible move can be predicted and analyzed. Combinatorics is used to do this. A key element in combinatorial game theory is one player moves at a time.

In classical game theory, more than one player can make a move at the same time.

There are often hidden elements, unlike in combinatorial game theory.

Classical game theory is related to economics as well. In addition, there are a lot of psychological games studied

Mathematical game theory was founded by Émile Bore. John von Neumann is a very important mathematician who is credited with finding and proving much of game theory.

yes