Explain about the specification of economics environments, Microeconomics

Assignment Help:

Explain about the specification of economics environments.

Specification of Economic Environments:

The primary step for studying an economic issue is to identify the economic environment. The specification onto economic environment can be divided within two levels as:

i. Explanation of the economic environment, and

ii. Characterization of the economic environment.

To do these well, the explanation is a task of science and the characterization is a work of art. The more specific and accurate the explanation of the economic environment is, the higher the prospect is of the correctness of the theoretical conclusions. The most refined the characterization of the economic environment is, the easier and simpler the arguments and conclusions will acquire.


Related Discussions:- Explain about the specification of economics environments

MRTS & MRS, What is the difference between MRTS & MRS?

What is the difference between MRTS & MRS?

Economics, characteristics of microeconomics

characteristics of microeconomics

Explain what the natural rate of unemployment, Explain what the natural rat...

Explain what the natural rate of unemployment is. It is necessary here to include a solid explanation based on economic concepts. The natural rate of unemployment is the rate o

Determinants of private demand - non-monetary benefits, Determinants of Pri...

Determinants of Private Demand - Non-Monetary Benefits Social status associated with university degrees is a determinant of investment decisions in higher education in the cas

Assignment, Differentiate between oscillation and damp cobweb model

Differentiate between oscillation and damp cobweb model

Mass, what is the mass of a body when it is taken to the moon

what is the mass of a body when it is taken to the moon

What is framework in the modern economics, What is framework in the Modern ...

What is framework in the Modern Economics? Framework in the Modern Economics: The framework is a framework which uses to deal along with daily activities and is utilized to

International trade, compare and contrast adam smith''s theory of absolute ...

compare and contrast adam smith''s theory of absolute advantage theory and david ricardo''s comparative advantage theory of international trade.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd