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The summarized view on Economics provided by our online Economics expert tells that it is the optimal use of resources to fulfill consumers demand. If you are looking for Economics assignment help, you are at right place. We provide you Economics assignment help on all the assigned topics of this subject.
Our team of magnificent Economic tutors will provide solutions to your doubts. Whether you are confused on the theory of demand and supply or your concept on consumer behavior is still blurred, our online tutors will explain it to you in simple terms.
Sometimes going through each and every-line of Economic text-book can be tedious and probably you might not be willing to read each line. So, our online tutors will summarize the topic for you outlining all the important points. They have completed years of educational journey and have acquired a professional degree in this field. They are efficient to solve queries and provide you Economic assignment help on time.
Before going for the depth study of this subject, it is important to understand the 4 basic concepts that are applied in every topic of Economics. Hence, our online tutors have briefly described these 4 key concepts. Scarcity is the fundamental concept in Economics. It refers to availability of limited resources to satisfy our unlimited needs. Explicitly, resources like manpower, technology, money and raw materials are limited but our needs and demands are unlimited.
So, studying Economics helps to make an appropriate decision regarding how to use these resources in order to meet the demand of consumers. The knowledge of this subject helps us discover the reasons for such decision. It also provides idea on making proper decision by researching the need of present market.
Take an example of Strawberries production. Lots of strawberries are produced for months in a year. Some prefer strawberry jam, some prefer preserved juices of strawberry whereas there are many who prefer raw strawberry. But among several only one product can be produced in extensive manner because of limited availability of strawberry.
So, how to decide that which product should be produced more than the other? Hence, the knowledge can be gained by the study of Economics. Our online Economics tutors provide Economics assignment help elaborating the concept of scarcity with some fresh examples. Supply and demand is a main pillar of market economy. Demand refers to the quantity of a product that people want to buy at a particular price whereas supply refers to availability of product that suppliers are ready to sell at certain price.
Hence, the theory of supply and demand explains that how the price for a particular good is fixed. If the demand of strawberries increases then suppliers must produce more of it to meet the demand. But with increase in demand, prices will rise proportionally. On the other hand, if the price rises, the demand tends to lower down and hence suppliers must lower the price to sell strawberries.
There are certain products that have no alternative and hence even-after a hike in price, consumers still purchase the product. This is just an overview of this concept. To get a simple yet proper explanation to it, contact our online Economics expert. We also provide Economics assignment help on all the topics segmented under this theory of economics. Our online service in Economics will provide you answer on consumer behavior towards market economy.
Our online Economic expert also provides Economics project help for any market product. They will research about the product and provide you the details clarifying the economical concept on its demand and supply in the present market.
Cost and benefit analysis involves reaching at an optimal solution by comparing the costs and benefits of various alternatives in order to maximize profitability. Our Economic professionals have further described cost and benefit analysis with an example. Suppose that a company XYZ sends one of its member every day to get the printout done.
After a period of time, they find this task tedious and hence, XYZ plans to purchase a printer. Now, the members in XYZ will perform cost and benefit analysis. Here, they will calculate the cost for sending its member for the printout and that of buying a printer. At this point they will also consider hidden cost in both these situations. Hence, if the cost of purchasing a printer is equal to a cost of sending one of its member for printout also called equilibrium or if the cost of sending the member is higher than purchasing a printer, it will prefer buying a printer over sending its member for printout.
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