Economics Best Assignment Help

Our online economics tutors provide financial help in all subjects, such as macroeconomics, microeconomics, demand and supply theory and many more.
Most people assume that economics has to do with money. But the word economy can not be limited to monetary transactions. It is more about making the best choice of all the alternatives you have. Therefore, the study of Economics provides knowledge about the use of resources in the best possible way. Below are some of the definitions that provide idea on this topic.
"The science that studies human behavior as a relationship between ends and means of scaring that have alternative uses" by Lionel Robbins.
"An investigation into the nature and causes of the wealth of nations" by Adam Smith.
Therefore, there are many definitions of this type in Economics that are explained differently. The summary view on economics provided by our expert in online economics says that it is the optimal use of resources to meet consumer demand.
If you are looking for help in the task of economics, you are in the right place. We provide you with economic allocation help in all assigned topics of this topic. Our team of magnificent economic tutors will provide solutions to your doubts. If you are confused with the theory of demand and supply or if your concept of consumer behavior is still blurred, our online tutors will explain it in simple terms. Sometimes, reviewing each and every one of the lines of the Economic textbook can be tedious and you are probably not willing to read each line. Therefore, our online tutors will summarize the topic for you summarizing all the important points. They have completed years of educational travel and have acquired a professional degree in this field. They are efficient to resolve queries and provide financial help on time.
Before continuing with the in-depth study of this topic, it is important to understand the 4 basic concepts that are applied in each Economy subject. Therefore, our online tutors have briefly described these 4 key concepts.

Shortage

Scarcity is the fundamental concept in the economy. It refers to the availability of limited resources to meet our unlimited needs. Explicitly, resources such as labor, technology, money and raw materials are limited, but our needs and demands are unlimited. Therefore, studying Economics helps make an appropriate decision about how to use these resources to satisfy consumer demand. Knowledge of this topic helps us discover the reasons for such a decision. It also provides an idea to make an appropriate decision when investigating the need of the current market. Let's take an example of the production of strawberries. Many strawberries are produced for 6-8 months in a year. Some prefer strawberry jam, others prefer preserved strawberry juices, while many prefer raw strawberry. But among several, only one product can be produced extensively due to the limited availability of the strawberry. So, how to decide which product should be produced more than the other? Therefore, knowledge can be acquired by the study of economics. Our online economics tutors provide assistance in the allocation of economics to develop the concept of scarcity with some new examples.

Offer and demand

Supply and demand are a main pillar of the market economy. The demand refers to the amount of a product that people want to buy at a particular price, while the supply refers to the availability of the product that the suppliers are ready to sell at a certain price. Therefore, the theory of supply and demand explains that the way in which the price of a particular good is fixed. Take an example: if the demand for strawberries increases, suppliers must produce more to meet demand. But with the increase in demand, prices will rise proportionally. On the other hand, if the price rises, the demand tends to fall and, therefore, the suppliers must lower the price to sell strawberries. There are certain products that have no alternative and, therefore, even after a price increase, consumers continue to buy the product. This is just an overview of this concept. For a simple but adequate explanation, contact our expert in online economics. We also provide assistance in the allocation of Economy in all the topics segmented under this theory of economics. Our online service in Economics will provide you with an answer about the behavior of the consumer towards the market economy. Our online economic expert also provides project help.

Cost and benefit analysis

Cost-benefit analysis involves access to the optimal solution by comparing the costs and benefits of different alternatives in order to maximize profitability. Our economists have described cost-benefit analysis as another example. Suppose that a company (XYZ) sends one of its members every day to get the printout. After a while, they found this task boring and thus, XYZ plans to buy a printer. Now, XYZ members will perform a cost-benefit analysis. Here, they will calculate the cost of sending their member to the printout and method of buying a printer. At this point they will also consider the hidden cost in these two cases. Therefore, if the cost of purchasing a printer equals the cost of sending one of its members to print (or so-called balance) or if the cost of sending the member is higher than the purchase of the printer, you would prefer to buy a printer by sending its member to the printout. Cost-benefit analysis therefore takes into account the qualitative and quantitative aspect of the examination of the monetary value of a project or of an investment. If you need homework in economics with some good examples of cost-benefit analysis, you can contact economic educators online and complete your work on time.

Topics in Economics Incentives

Incentives are the source of motivation to keep track of your preferences in the economic sector. The incentives can be of two types: external incentives and self-incentives. External incentives arise from outside the person and motivate him to accomplish the task. Such as whether the company wants to increase the production of a certain commodity (such as strawberry jam) from 500 bottles to 1000 bottles a day, they will announce a reward for the worker if they produce 1000 bottles each day. Therefore, at this stage the reward becomes the source of motivation for the workers. This is external incentives. It basically involves price or money in the form of discount, bonus, sale, bonus or so on. Incentives are an internal feeling of satisfaction with work. Take, for example, if your business is making a positive difference in the area where you work, you will feel satisfied and satisfied. This is the self-motivation that motivates you to work harder.
If you're looking for help to set the economy in any of these areas, sign up for our online help site. Our experts will carry out your economic tasks that will include all the information you require in your mission.
The economy can be classified into two broad areas of study: microeconomics and macroeconomics.

Microeconomics

It is a major area of ​​economics that deals with individual unit behavior (individual or business). To illustrate this, this area helps us to study the market behavior of an individual company or consumer in order to know the decision-making process. Thus, the study of microeconomics expands our knowledge of the process of interaction with individual buyers and sellers to identify the elements that stimulate their choices. The concept of microeconomics is often concerned with the smaller picture of individual behavior. So, in this area of ​​economics, we study about product pricing, pricing factors, study companies and many more. If you are looking for help with an economic task in this area, you can contact us. We will give you the required subject details in the simplest form. You can even purchase a job from our portal on a specific topic in your economics department.

total economy

On the other hand, macroeconomics focuses on the larger picture of decision-making. It includes the national economy, the regional economy or the global economy. Hence, this area draws our attention to the collective supply of goods and services to determine price, inflation, GDP, unemployment, etc. We study the general price level, investment and savings, economic growth and much more. Our economists have highlighted the differences between these two areas of the economy.

Difference between Microeconomics and Macroeconomics

Microeconomics	Macroeconomics
1. The study of Microeconomics is concerned with the behavior of individual unit.	1. The study of Macroeconomics is concerned with the behavior of economy as a whole.
2. Termed as ‘Price theory’	2. Termed as ‘Income Theory’.
3. Deals with the issues that disturb an individual or company. Like Opportunity cost, demand and supply etc.	3. Deals with the issues that disturb the entire country like unemployment, inflation, price etc.
4. Unrealistic assumptions are made.	4. ‘Fallacy of Composition’ is involved which doesn’t turn out to be true because not necessarily, the things that are true for aggregate is also true for individual.

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