Bmal 590 certification - Study guides, Class notes & Summaries

Microeconomics focuses on individual actions of sellers (producers) and buyers (consumers) and how those actions have consequences for the availability, distribution, and utilization of scarce resources. When we refer to "individual" action, we are referring to: a variety of actors that in microeconomic terms can be referred to as sellers (producers) and buyers (consumers). These actors influence the supply of and demand for goods and services. The means for achieving coordination a...

Microeconomics focuses on individual actions of sellers (producers) and buyers (consumers) and how those actions have consequences for the availability, distribution, and utilization of scarce resources. When we refer to "individual" action, we are referring to: a variety of actors that in microeconomic terms can be referred to as sellers (producers) and buyers (consumers). These actors influence the supply of and demand for goods and services. The means for achieving coordination a...