WKU - ECON 202 - Micro-Economics Exam 1 Study Guide.
Assignments Exams Download Course Materials; A total of 10 graded problem sets were assigned during the semester. Each one covered approximately one week's worth of new material. The best 9 scores out of 10 were used to calculate the term grade.
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A basic definition of microeconomics is the study of how an individual, whether it is a single person or business, decides how to allocate resources, and the interaction that occurs between those.
Applications of microeconomics to the structure, behavior, and performance of American industry in view of public and private social goals. Coverage includes public policy toward monopoly. Recent Term(s) Offered: None. ECON 445G Economics of Healthcare 3 Hours. Health economics studies the unique role that healthcare systems play in the broader area of microeconomics. Recent Term(s) Offered.
Microeconomics is the study of the behavior of individual, small, isolated and disaggregated units. 2. Partial equilibrium analysis is developed by Walras. 3. The term microeconomics and macroeconomics were first given by Adam Smith in 1933. 4. Product pricing, factor pricing and theory of economic welfare are the scope of microeconomics. 5. General equilibrium analysis is used in.
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Microeconomics concept can be better understood with its basics and one must conduct intensive research into all its basics like demand, supply, and need to maintain equilibrium between the two and must also necessarily gain some knowledge with respect to the measurement of elasticity, the theory of production and consumer demand theory. Goodness! This was quite a lot to digest! Not only was.