BMP4003 Business Environment - Article Review: Microeconomics

This presentation provides an overview of microeconomics, focusing on its core theories and applications. It begins by defining microeconomics as the study of individual and environmental responses to price and resource changes. Key microeconomic theories, including consumer demand and the demand-supply theory, are explored. The presentation elaborates on the demand-supply theory, defining demand as the quantity of products consumers are willing to purchase at a specific price point. It also discusses various market structures, including monopolistic competition, perfect competition, oligopoly, and monopoly. The presentation concludes by summarizing the importance of microeconomics in addressing economic issues at a national level, considering aggregate demand and supply. Desklib offers more solved assignments for students.