Microeconomics has been associated with decisions of economic nature and the individuals have certain actions in their firms. In the church of microeconomics, we have come across different theories which highlight those assumptions along with the hope of the behavior of the economy. The major theory has been the neo-classical theory and there is priority of free-markets. The individuals assume the rationality. It is looking for increasing the utility. We have come across critiques in that neo-classical model. There has been an argument of economics which is quite complex with those issues of the failure in the market. The behavior is irrational. Prior to Adam Smith, economics had been disparate without a command of the total theory.
There are philosophers and some reputed philosophers is Plato and Aristotle who had taken references for the issues related to the economics like the division of labor. The Neo-classical theory has been re-interpretation of the classical economics in a modern way. It had been the economics of nineteenth century. The Neo-classical theory gives priority to the markets. New ideas were developed associated with the utilization of rational choice theory. You can get answer of question like “How to Solve Microeconomics Essay Questions Effectively?”
Vital Theories of Microeconomics
Consumer demand theory has been associated with the preferences. It is based on the consumption of the services and goods for the consumption expenditures. There has been a relationship between the consumption expenditures and preferences. They have been utilized for associating with preferences for the curves of consumer demand. There has been a link between the personal preferences, demand curve and consumption. The demand curve has been studied for the economics relations. This is a process of analyzing the nature of consumers which might get the equilibrium between the expenditure and preference through increasing the utility topic for the budget constraints of consumer.
There has been the theory of cost-of-production on the value. It tells that price of the topic or the condition has been established by total cost of those resources which has been involved in the creation. The cost includes the factors of production. It consists of land, capital or labor. It also includes the taxation. We can view the technology as the fixed capital. An example is the industrial plant. It might be circulating capital. An example is the intermediate goods.
There is an Opportunity cost which has been associated with the concept of the constraints in time. It is important to know that we can do a particular thing for one time. It indicates that an individual has abandoned different things. There is an opportunity cost for the activity and it represents the value of an alternative object. There is an Opportunity cost which relies on value of another alternative. It did not involve whether there are five alternatives or there might be 5,000. Those who are looking for microeconomics homework help, they can get the answer from the writer of Dream Assignment.
How to Write Answers of Microeconomics
We observe certain strategies and it assists in preparing the exam in right way.
1. Proper utilization of fifteen minutes
Most of the boards of school started the idea of the extra 15 minutes moment for the examinations of board before the pupil begin presenting the examination. In the extra time, it was offered for the students to examine those queries in the right way. The plan has been drafted on the procedure of solving that paper in the right way instead of becoming afraid. So, the students have used fifteen minutes in a careful way to develop the plan for attending the exam in the correct and smooth way. The student can get original microeconomics assignment answers.
2. Fixing the importance
It is important to enlist the questions and they have gained confidence. We do not find any topic for answers in similar way as found in the question. Initially, we have to present those answers which are understood perfectly. It will assist you in improving the level of confidence. It is going to assist you in spending sufficient time to plan those answers of different questions. They have been faded in the mind.
3. Presenting short answers
The student has to go through the question in a careful way. They need to follow the meaning of the question. It is important to create a limit of the answer for the requirement. The writing of the paragraph must be avoided in order to talk about something. There is no need for explanation.
4. Picking up the queries wisely
There are certain questions in research paper. They are offered with the internal choice. The student must choose one of the alternatives. It is quite intelligent for the choices where the students had taken the decision on the instinct. There is a question to try and regret for not picking up the next question. They had known it properly.
5. Try Most of The Queries
Our team understands there is nothing marking of negative type for the faulty answers in the board examination. We should not be frightened for responding to the question and this is the subject of confusion. It is important to understand we cannot lose anything. The instruction should be read in a careful way.
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