What Is Macroeconomics?
Macroeconomics is the study of the behavior of the economy as a whole. This is different from microeconomics, which concentrates more on individuals and how they make economic decisions. Needless…
Microeconomic Success
On the success side of the microeconomic ledger are many companies whose top management made the right decisions as start-ups or in their restructuring efforts in the face of changing…
Making Economic Decisions – Starting A Business
The microeconomic concepts that drive the decision-making processes of an established firm also apply to start-up businesses. A major difference, however, is that the small start-up typically won’t have enough…
Factors Of Consumer Decision-Making
Supply and Demand Although economists all agree that the price of a product or service is a major factor in the consumer decision-making process, it's not the only factor –…
Microeconomics: Factors Of Business Decision-Making
The process by which businesses make decisions is as complex as the processes which characterize consumer decision-making. Business draws upon microeconomic data to make a variety of critical choices –…
Microeconomics: Assumptions and Utility
The decision-making process of the individual consumer is critically important in the study of microeconomics because consumer spending accounts for nearly 70% of the economy. Consumers also save money, invest…
Microeconomic Renaissance
While Keynesian economic theory was being applied in most of the world's major economies, the new concept of microeconomics, pioneered by Marshall, was also taking hold in economic circles. The…
Microeconomics: A Brief History
As early as the 18th century, economists studied the decision-making processes of consumers, a principal concern of microeconomics. Swiss mathematician Nicolaus Bernoulli (1687-1759) proposed an extensive theory regarding consumer buying…
Microeconomics: Introduction
In most areas of human enterprise and endeavor, there's a big picture and a little picture – the macro and the micro. The macro looks at things through a wide-angle…
Uses of Break even analysis
Breakeven analysis is useful for the following reasons: · It helps to determine remaining/unused capacity of the concern once the breakeven is reached. This will help to show the maximum profit…
