Micro Economics

If you are asking what "health" an economy would it be if people have a low standard of living the answer is a depression. If you are wondering which type of economy breeds low standards of life this becomes a more politically motivated question. There is great debate to what kind of economic system would benefit which countries. In order to fully understand the influence of the economical system over any given country you must fully understand what their main industry is and what kind of industry and production they can attain as well as what their population and state of wealth and governmental tendencies are. In most modern developed countries the type of economic system that would lead to a low standard of living would be a command economy. A command economy is an economy that is deeply influenced by political thought and government agencies. The government makes it hard for individual people to have a share in business and the main sources of income and production are government regulated or run. This is the exact opposite of a free market economy where everyone has equal opportunity. A command economy would likely be the result of a communist governmental control.The traditional economy is the communities that generally have low standard of living. This are people are called middle class.

in macroeconomics manpower is related to growth and development of the country because of increased investment level(producers get attracted towards the huge market) and also increase in produce of the countrys outputs if converted to human capital else it would serve as a huge burden on the countrys demographic investment.In microeconomics increase in the members of the family or firm will lead to increase in output and also increase in income.

If the prices are set below the level of equilibrium, the quantity supplied will be less than the quantity demanded. Introduction of minimum prices will lead to hoarding of goods, thus social welfare falls.

price of a commodity is a study of microeconomics as it deals with the behaviour of individual economic units or commodity.

Tuition costs and the cost of books, whereas the implicit costs include foregone income.

savings in an economy impact the level of investment in the economy. if the households save more, then this will lead to capital formation in the economy which will boost the economic situation of the nation.

Positive, it's all about having objectives that can be tested, amended or rejected with the help of evidence or an objective explanation.

Ranger Frisch coined these two terms in 1933.

is the branch of economics that study the economic behaviour of small individual decision making unit in an economy.

micro and macro changing?

terdapat hanya penjual tunggal,ianya menjual produk yang tidak Ada pengganti hampir dan terdapat halangan besar untuk memasuki pasaran.

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In private schools the main focus is given to english language which includes english speaking. Thus an increase in english teacher's salary will increase the overall total cost of the school to provide their service which wil reduce the revenue of the school. To maintain the earlier level of revenue, prices will go up, in this case, school's fee will go up.

The elasticity of supply establishes a quantitative relationship between the supply of a commodity and it’s price. Hence, we can express the numeral change in supply with the change in the price of a commodity using the concept of elasticity. Note that elasticity can also be calculated with respect to the other determinants of supply.

However, the major factor controlling the supply of a commodity is its price. Therefore, we generally talk about the price elasticity of supply. The price elasticity of supply is the ratio of the percentage change in the price to the percentage change in quantity supplied of a commodity.

Es= [(Δq/q)×100] ÷ [(Δp/p)×100] = (Δq/q) ÷ (Δp/p)

Δq= The change in quantity supplied

q= The quantity supplied

Δp= The change in price

p= The price

when technology improves, PPC (production possibility curve ) will shift rightward and the total production in an economy will increase.

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Yes, it is an economic issue and it is a macro economic indicator.

Micro economics deals with smaller things like an individual peoples decisions and small communities. An example of a conflict is in micro economics it is irrational to vote yet in macro economics it is rational. Micro economics deals with more individual based problems while macro is more broad spectrum.

Its option c) individual units of economy. (true)

in rainy season farmer has lost their crops .

yes

Supply is the quantity of pizza and other products that are offered by all the whole chain of pizza hut for sale.

Demand is the amount of pizza and other products that the consumers are willing to buy at the ongoing prices.

development of an economy is an internal phenomenon as it comes from within.

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