Econ Discussion

User Generated

zbqn0_0

Business Finance

Description

Please name at list three concepts in Chapters 1 - 3 that seem challenging to you. Next, describe what is making each of those concepts challenging. What steps have you taken to address those challenges and to each extent those steps have or have not helped?

If possible, react to other students' posts. Your handling of own situation can help other students who are experiencing the same challenges

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

Running head: ECON DISCUSSION

1

Econ Discussion
Name
Institution
Date

ECON DISCUSSION

2

Introduction
The concept of microeconomics is wide, broad and endless though important and
interesting to study. Economics: Principles, problems and policies book by Flynn, McConnell,
and Brue has discussed the concept of economics both at the micro and macro levels
(McConnell, Brue & Flynn, 2017). In the first three chapters of the book, some concepts are very
clear and easy to comprehend, while few other concepts present a real challenge in their
understanding.

Discussion
From chapter 1-3 of this book, concepts such as marginal analysis, market equilibrium,
Laissez-Faire Capitalism and Circular Flow Model are difficult to comprehend. In chapter 1,
there is marginal analysis concept which refers to the comparison of benefits against cost is
complex for me to interpret. Making of decisions based on adjustments in status of living and
prevailing standard of living is the main complexity in this concept. Though the analogy of
queuing on the shortest queue to get the fastest service in an attempt to save on time for some
other activity attempts to simplify the concept, it still does ...


Anonymous
Really great stuff, couldn't ask for more.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags