Microeconomics: Brief Overview

A Raw Scholarly Article.

In part one Introduction to Economics and the Economy it explores many different aspects of the economy as well as how we approach economics. In part one or chapter one we learn economic perspective, economic theory, economic growth, budget lines, and the base of what economics and its structure.

The economic perspective is the first and universal way economist perceive the economy and is critical to understanding it. The first component is scarcity which limits option and demand choices. Simply, because you…