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Department of Management Information Systems Assignment

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Added on  2021-07-05

Department of Management Information Systems Assignment

   Added on 2021-07-05

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Department of Management Information SystemsCourse Name: Microeconomics Course Code: 107 Submitted to: Md. Ariful Islam Assistant Professor Department of MIS Faculty of Business Studies University of Dhaka Submitted by: Ramisa Tasfiah BBA roll: 029-15-028 Department of MIS University of Dhaka Date of submission: 18th March, 2021
Department of Management Information Systems  Assignment_1
Summary 1. You are an everyday economist Economics may seem too dull or monotonous topic to anyone who is learning this newly or has been researching for long. But in reality, it is available to all of us, and economics has been already a huge part in our life. Economics is not only about some money; It is all about the demand and supply of our regularities or its management. The analysis of the distribution of supply and demand here is the key to management process in economics. This is a picture from a bigger frame, but in generally, we all are individually economist. We all make some choices every day that are influenced by the ideas of economics. We use the analysis in order to make the best choice while purchasing any products or pricing any deal. The thoughts of economics let us have potential choices and affects the transactions. There are also various branches of economics performing several tasks. Here stratification branch of economics surveys the inequality of wealth and ethnic systems. Feminist branch discovers the disparities between male and female gender. 2. What is economic value, and who creates it? Since long time, the definition of value has changed much. Today the definition we know is nothing just a misconception. Basically, the proper meaning of the value has been changed for its various sources. For times, the sources are changed with different revolutions of different eras. When it was industrial revolution, people focused on the industrial gradients that affected the products and the productivity. In 1900s, economist considered the facts whether the regular products met up the requirements or the perfect supply-demand extent. Those various things to determine value is change much now. Value is not only about the pricing of a product, but also the demand and its supply in the market. At 1970-1980s, the financial sectors in investments or markets were considered heavily. But it’s high time when we not include more staffs into the economic philosophy, but find new ways to assist in the restructuration of the financial sectors and renew the chances of opportunities that are missed.
Department of Management Information Systems  Assignment_2

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