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Does anyone want to discuss microeconomics ?
- Thread starter Br4va
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I do not know much about it.
I thought so
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What is it about?
Shit basically microeconomics is going in depth into individual market systems. And some other stuff
@Inanimate Pragmatist
Also it’s study if how individual business and people and their choices within different kinds of markets
Also it’s study if how individual business and people and their choices within different kinds of markets
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How about we talk about the political and economical state of the world rn
No microeconomics only
Xavier9
“To define is to limit.”
maybe next year I'm taking AP macro/micro
Nice
What do you mean ?
Microeconomics is the study of how individuals and businesses make decisions. And it also deep into different market structures
Ok can you explain to me the process of how they make decisions? Has it got to do a lot with psychology and influencing others and dangling carrots on sticks?
Not really. They jsut go through different strategies that individuals and business do.
I guess there is a little bit of psychology.
Can you give examples of some strategies that businesses use?
Yea hold on
For example price discrimination. There are different types. But the most ideal one is being able to charge people their willingness to spend. So I can sell oranges , but if you are gonna buy them for 5$ , and someone else wants them for 6$, I sell you it for 5$ and sell it to the other person for 6$
Also another interesting one is interdependence in oligopolies. Each oligopoly depends on one another to succeed in their market, so all of those companies might decide to raise prices at the same time
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1 business please
lol funny