Explain key microeconomics terminology

Reference no: EM13175581

1. explain key microeconomics terminology
2. differentiate between microeconomics and macroeconomics
3. create and use economics graphs and numerical models to analyse and solve microeconomic problems.
4. explain the costs and benefits of internatinal trade, including calculation of gains from trade.
5. anayze the implact of government activity in markets.
6. determine optimal consumer buying decisions in the context of utility theory.
7. compare and contrast optimal pricising and output decisions in various market structures
8. apply supply and demand theory to both prodcut and factor markets

Reference no: EM13175581

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