The main concern of the present paper are the basic principles of the microeconomics including the issues related to supply and demand as the main constituents of the market. According to the information provided in the third chapter to understand the main principles of microeconomics the following concepts should be taken into account: a competitive... read more
2 pages
600 words
The analysis of event by using the supply-demand framework
Demand and supply are two perhaps the most powerful market forces. Together they set the equilibrium price level and quantity sold (Mankiw, 2007). Therefore, the analysis of their determinants is of special interest for us.
OPEC reduced the production of oi... read more
1 page
300 words
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