Introduction into Microeconomics

Abstract from the year 2017 in the subject Economics - Micro-economics, grade: 1,3, language: English, abstract: This text deals with the basic principles and theories of microeconomics. It describes the connection between demand and supply in perfect and imperfect markets to explain different, observed outcomes with the theoretical approaches. It is somewhat advanced to understand, therefore a certain level of knowledge about the market economy is recommended, but not absolutely necessary. In particular, market types like pure-competition, monopoly, and monopolistic competition are mentioned and analyzed as well as cost minimization and profit maximization issues for each type. Various graphs underline the text and help to deliver and understand the message.