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Economics Microeconomics Concepts

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Mhd Shaheem
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12 views3 pages

Economics Microeconomics Concepts

Uploaded by

Mhd Shaheem
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Economics: Microeconomics

Concepts
Title: Introduction to
Microeconomics
Image: A simple supply and
demand curve graph.
Text:
Introduction: Microeconomics
focuses on the behavior of
individual economic agents,
such as consumers, firms, and
markets.
Key Concepts:
Supply and Demand:The
fundamental forces that
determine market prices and
quantities.
Supply: The quantity of a
good or service that
producers are willing and able
to offer at different prices.
Demand: The quantity of a
good or service that
consumers are willing and
able to buy at different
prices.
Market Equilibrium: The point
where the supply and demand
curves intersect, determining
the equilibrium price and
quantity.
Elasticity: Measures the
responsiveness of quantity
demanded or supplied to
changes in price or other
factors.

Market Structures: Different 1


types of market competition,
including perfect competition,
monopoly, oligopoly, and
monopolistic competition.

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