decreases, firms are likely to reduce the number of goods or services they are willing to supply. If the market price goes up, firms are likely to increase the number of goods they are willing to sell. This is important for consumers who need a product and are concerned with potential...
C. 2007. On what should firms focus in transitional economics? A study of the contingent value of strategic orientations in China. International Journal of Research in Marketing, 24: 3-15.Gao, G., Zhou, K. and Yim, C. (2007), "On what should firms focus in transitional economies? A...
The Dictionary of Economics defines microeconomics as "the study of economics at the level of individual consumers, groups of consumers, or firms," Microeconomics is the analysis of the decisions made by individuals and groups, the factors that affect those decisions, and how those decisions affect...
Organizational economics is a branch ofapplied economicsand New Institutional Economics that studies thetransactionsoccurring within individual firms, as opposed to the transactions that occur within the greater market. Organizational economists study how economic incentives, institutional characteristics, and tra...
In economics, what is meant by an Oligopoly?Market Structure:The process of classifying the market on the basis of their characteristics is known as market structure. The decision making process of the firms is dependent on the structure of market....
How is consumer price index related to micro economics? In economics, what is the role of a consumer? In economics, of what use is the retail price index? What are the fundamentals of macroeconomics, and how do they affect the average consumer?
Economics Definition: Economics is that branch of social science which is concerned with the study of how individuals, households, firms, industries and government take decision relating to the allocation of limited resources to productive uses, so as to derive maximum gain or satisfaction....
There is a concept in economics known as time preference, Earle says. It refers to the inclination of consumers to spend money on purchases now rather than save money to buy goods in the future. Low interest rates tend to spur high consumer spending, which in turn drives up debt. Unfortuna...
Supply side economics is a macroeconomic theory that posits that production or supply is the main driver of economicgrowth. Creative Destruction Creative destruction was first described by Austrian economist Joseph Schumpeter in 1942, who suggested that capital was never stationary and constantly evolving...
Merrill Lynch introduced the first cash management accounts in 1977. Back then, they were structured as money market mutual funds with check-writing privileges. Their popularity has since grown, and today, they’re offered by various non-bank entities, such as brokerage firms, mobile investing app...