Micro Economics

May 20th, 2015
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Aberystwyth University
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The key factors that affect the ability of a firm to earn an acceptable rate of return on its owners’ investment are known as the economics of a business. The most important of these factors are competition, technology, and customers. These factors continuously put pressure on the market share and profit margin of a company which leads to a changing economics

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EconomicsEconomics is the study of how people make choices to get what they want, when they cannot get everything they want. The word comes from Ancient Greek, and relates to okos "house" and nomos "custom" or "law". The models used in economics today, were mostly started in the 19th century. People took ideas from the field of political economy, because they wanted to use an empirical approach similar to the one used in the natural sciencesEconomic history is the study of how economic phenomena evolved from a historical perspective. Analysis in economic history

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